Expert: Jeff White - 10/18/2004

Question
Dear Jeff,
    I am currently in 8th grade and now we are doing compound interest. Algebra isn't to hard for me but I always struggle with compound interest. I can never memerise the formula and it's so confusing.  It's hard to multiply the numbers if it's semi-annual or quarterly. Please help, I have a test on compound interest in less than a week.

                          From,
                              Honeygirl

Answer
"Honeygirl"?  Why "Honeygirl"?  Interesting nickname.

I'm going to refer you to my favorite algebra resource online.  She does a great job of explaining just about every algebra topic you could hope for.  The site is www.purplemath.com.  Specifically for this topic, look here:
http://www.purplemath.com/modules/expofcns3.htm

Jeff