The application of percentages has been used across the globe to determine various parameters and rates. I have used the calculations involving percentages in the financial sector where banks and other financial institutions take the task of determining the interest rates on loans and borrowings based on the percentages on the amount borrowed or loaned. These percentages are in two fold and they describe the aspects of either the extent of time taken before paying the loan or the time taken for the savings to be under custody of the financial institutions. I deposited $ 500 in a bank and was allowed an interest rate of 8% compounded annually. After 3 years, I realized my savings had grown to some recommendable amounts exceeding $ 850. This gesture made me believe that savings is an important aspect in the aspect of an investor. On another occasion, I took a mortgage loan of $ 1500 with the same bank for purposes of development. The interest rate on the loan was placed at 15% per annum to be paid within 5 years.
I realized I had to pay a lot of money based on the high interest rates on the loans. These two scenarios tend to create a belief that deposits earn low interests as compared to loans. It is significant to note that these figures show an individual that it is always wiser to invest rather than relying on the loans to make the economy grow. The idea on the financial interests has clearly made tremendous change in my life as I no longer believe in loans, but take all what it takes to invest and save.
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Just before engaging in this course, I had to undertake some form of unit conversion that was linked to understanding of the units used in capacity measurements. We had to convert the metric measurements we obtained from the laboratory calculations from the cubic centimeters to litres. I realized that 1000cm 3 was equivalent to 1 litre. After calculation the values we obtained from the laboratory we had to determine the volume of the solutions in litres. The project was successful in that we could then state the exact volume in litres of the solutions we obtained after the experiment.
