Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - To differentiate between simple interest (calculated on principal only) and compound interest (calculated on principal plus accumulated interest). - How to correctly calculate total interest earned in compound interest problems by subtracting the initial principal from the final amount. - The method for setting up break-even problems by equating total revenue with the sum of variable and fixed costs. - The critical mistake of combining percentages and the correct method of applying them sequentially to the proper base (e.g., tax after discount). - A mental shortcut for multi-step percentage problems: "Don't Guess The Base, Just Run The Race" to ensure step-by-step accuracy. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep