Below is a list of terms that you will find throughout this unit:

• Compound interest: interest computed on the sum of an original principal and accrued interest*

• Connector: connectors are used to show that an item is affecting something else within the model

• Converter: a converter is used to represent something that modifies or affects the rate of change of the stock

• Dynamite: Use this tool to "blow-up" or remove something from your model. Be sure to click on the active region of what you are trying to remove

• Exponential function: a mathematical function in which an independent variable appears in one of the exponents -- called also exponential*

• Flow: the flow is used to represent stock entering or leaving its box

• Flowchart : a diagram that shows step-by-step progression through a procedure or system especially using connecting lines and a set of conventional symbols*

• Linear: of, relating to, resembling, or having a graph that is a line and especially a straight line*

• Model Mode Toggled "On": In this mode you can build mathematical models. These models can be run to show change over time. Click on icon if you want to move to the Map Mode

• Map Mode Toggled "On": In this mode you can build concept maps to show the general relationships within a system. You cannot use equations and quantities to model change over time. Click on the globe to move to the Model Mode

• Savings account: an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form*

• Simple interest: interest paid or computed on the original principal only of a loan or on the amount of an account*

• STELLA: a computer software program that is used to model various situations

• Stock: a stock is something that accumulate or depletes over time. You monitor the amount of stock. It can be compared to a warehouse where items are stored.
  
  

  *These definitions were copied from Merriam-Webster Online at http://www.m-w.com/cgi-bin/dictionary

Simple and Compound Interest