# Key Concepts Summary

## 9.1: Compound Interest Fundamentals

• How compounding works
• How to calculate the periodic interest rate

## 9.2: Determining the Future Value

• The basics of taking a single payment and moving it to a future date
• Moving single payments to the future when variables change

## 9.3: Determining the Present Value

• The basics of taking a single payment and moving it to an earlier date
• Moving single payments to the past when variables change

## 9.4: Equivalent Payments

• The concept of equivalent payments
• The fundamental concept of time value of money
• The fundamental concept of equivalency
• Applying single payment concepts to loans and payments

## 9.5: Determining the Interest Rate

• Solving for the nominal interest rate
• How to convert a variable interest rate into its equivalent fixed interest rate

## 9.6: Equivalent and Effective Interest Rates

• The concept of effective rates
• Taking any nominal interest rate and finding its equivalent nominal interest rate

## 9.7: Determining the Number of Compounds

• Figuring out the term when n is an integer
• Figuring out the term when n is a non-integer 