Geometric Series Sum to Figure Out Mortgage Payments

Looking for nice real-life example of a finite geometric series? In this video, a geometric series is used to calculate the monthly payment amount on the fixed rate loan. Starting with a general equation of monthly payments, Sal shows how the calculation of payments is actually a geometric series. He then uses this series to calculate an example payment for a loan.

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Resource Details

Grade
10th - 12th
Subjects
Math
2 more...
Resource Type
Videos
Instructional Strategy
Flipped Classroom
Usage Permissions
Creative Commons
BY-NC-SA: 3.0
cc