## Homework Hints 11-6

### Note: Homework Hints are given only for the Level 1 and Level 2 problems.

However, as you go through the book be sure you look at all the examples in the text. If you need hints for the Level 3 … See the whole entry

However, as you go through the book be sure you look at all the examples in the text. If you need hints for the Level 3 … See the whole entry

- Definition of variables
- Classification of financial formulas
- simple interest formula
- compound interest formula
- future value problem
- present value problem
- ordinary annuity
- present value of an annuity
- sinking fund
- amortization

- Present value of an annuity
- definition
- formula
- calculator

- Monthly payments
- define amortization
- formula
- calculator
- distinguish add-on simple interest and amortization