Episode 1 — Banking & Investments

Simple & Compound Interest

Learners will be able to:

- Calculate simple interest as 10% of the original amount borrowed. - Explain that compound interest is calculated on the initial loan plus all accumulated interest. - Identify the difference between simple and compound interest in a given scenario. - Apply the formula for calculating compound interest by multiplying the current balance by the interest rate. - Interpret how compound interest affects the total amount owed over time.