Great! I did the whole business math foundations set of videos. You can find the list on 1mjourney.com by clicking on the Math button. It’s all for free to help anyone learning the topics! Cheers.
i was struggling to find someone who explained this in a way i understood. thank you so much for your video, it helped me get the question right on my assignment AND now i understand how i reached the answer
Hi! Glad to hear that the video helped! If you are interested in the videos related to business math, then you can find them on 1mjourney.com (click on math and scroll to the bottom). It's free for all learners. Cheers! And welcome to 1mjourney.com
Hey mr bartek Jay again. For simple interest, if t is given in years and months and rate is annually or per annum, do I add the months to the years? Or convert the years into months and then add the months. For this question t is 3 years and 7 months
in simple interest you always have to turn time “t” into years. E.g. if you have 1 year and 3 months then that would be turned to 15/12 (because in total you have 15 months and each year is 12 months in length). If for example you were given 40 weeks, then you would have to turn that to 40/52 (because in a year you have 52 weeks and that is why you would divide by 52). If you have 3 years and 7 months, then you can say 36 months + 7 months = 43 months, and t = 43/12 which would give you the number of years. I made a video about time "t" and simple interest, see here: ua-cam.com/video/UX37Hex1TaM/v-deo.html
@@1mjourney please correct me if i am wrong. MY UNDERSTANDING IS TIME SHOULD BE ALWAYS THE SAME WITH THE RATE (e.g., p.m.) then you should convert the time month, or if the rate is p.a. and the time is 2 years for example then both given is on the same time so no need to convert. KEY IS TIME SHOULD ALWAYS CONVERT TO THE TIME OF RATE. please comment. thanks. great content.
@@rolandrojo Hi Roland. This is a simple interest example so your time and rate must indeed align, where time (t) must always be in years and the rate (r) is always per annum (p.a.). If you are given the number of months then you must change that time to years. If, as you mention in your comment, you are given time in years, then you do not need to change anything as you already have your time (t) in years. Now, as default in Simple Interest the rate must be p.a. so you must always convert your time (t) into years. Aside: if you are working with compound interest then this it is slightly different. I do provide equivalent value explanations with compound interest on this channel. By the way, if you want to see all the videos based on topics organized, then visit: 1mjourney.com and click on “Math” at the top or the “1Mjourney - Math” button on the home page. There on the Math page you can scroll down to find the “Business Math” course and all the videos I did for that course. Happy studying and welcome to 1mjourney.com
Thanks!! it helps me with an exercise
Great! I did the whole business math foundations set of videos. You can find the list on 1mjourney.com by clicking on the Math button. It’s all for free to help anyone learning the topics! Cheers.
i was struggling to find someone who explained this in a way i understood. thank you so much for your video, it helped me get the question right on my assignment AND now i understand how i reached the answer
Hi! Glad to hear that the video helped! If you are interested in the videos related to business math, then you can find them on 1mjourney.com (click on math and scroll to the bottom). It's free for all learners. Cheers! And welcome to 1mjourney.com
Thank you so much for further clarifying it! It helped me tons.
Welcome to the 1mjourney. Share with others and let’s see how many more people the videos can help! Happy studying!
Thank you so much, you really help me visulaise the problem.
Great to hear that the video has helped! Happy learning!
Hey mr bartek Jay again. For simple interest, if t is given in years and months and rate is annually or per annum, do I add the months to the years? Or convert the years into months and then add the months. For this question t is 3 years and 7 months
in simple interest you always have to turn time “t” into years. E.g. if you have 1 year and 3 months then that would be turned to 15/12 (because in total you have 15 months and each year is 12 months in length). If for example you were given 40 weeks, then you would have to turn that to 40/52 (because in a year you have 52 weeks and that is why you would divide by 52). If you have 3 years and 7 months, then you can say 36 months + 7 months = 43 months, and t = 43/12 which would give you the number of years. I made a video about time "t" and simple interest, see here: ua-cam.com/video/UX37Hex1TaM/v-deo.html
Thank you so much.. I can survive now.... ^_^
Happy studying! Glad to hear the video helped ... pass it on and lets help more people.
@@1mjourney Sure !! Really helpful VDO... You are the best teacher.
@@1mjourney please correct me if i am wrong. MY UNDERSTANDING IS TIME SHOULD BE ALWAYS THE SAME WITH THE RATE (e.g., p.m.) then you should convert the time month, or if the rate is p.a. and the time is 2 years for example then both given is on the same time so no need to convert. KEY IS TIME SHOULD ALWAYS CONVERT TO THE TIME OF RATE. please comment. thanks. great content.
@@rolandrojo Hi Roland. This is a simple interest example so your time and rate must indeed align, where time (t) must always be in years and the rate (r) is always per annum (p.a.). If you are given the number of months then you must change that time to years. If, as you mention in your comment, you are given time in years, then you do not need to change anything as you already have your time (t) in years. Now, as default in Simple Interest the rate must be p.a. so you must always convert your time (t) into years. Aside: if you are working with compound interest then this it is slightly different. I do provide equivalent value explanations with compound interest on this channel. By the way, if you want to see all the videos based on topics organized, then visit: 1mjourney.com and click on “Math” at the top or the “1Mjourney - Math” button on the home page. There on the Math page you can scroll down to find the “Business Math” course and all the videos I did for that course. Happy studying and welcome to 1mjourney.com