Its important to note with simple interest the amount earned will stay the same every year. In National 4 Lifeskills Maths investigate interest rates and borrowing including loans savings credit cards store cards and credit agreements. A powerpoint with worksheet on successive percentage change and compound interest.
For example if you were to save 200 at 3 simple interest you would earn 6 per year every year.
Compound interest or interest on interest is calculated with the compound interest formula. FREE 22 clongmoor Successive Percentage Change Compound Interest. Stream until Sat 27th Mar. In National 4 Lifeskills Maths investigate interest rates and borrowing including loans savings credit cards store cards and credit agreements.