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how to calculate compound interest ks3. There is a significant chance you will have to calculate simple interest on your IGCSE GCSE maths exam papers. Method 1 28 can be written as frac28100 or as 0028 just as for example 34 can be.
Simple And Compound Interest Maths Gcse Revision from revisionmaths.com
The longer a debt is outstanding the bigger the impact of compounding interest. FV PV 1r n. Here the interest is added to the principal at the end of each year.
Total Value 206103 Total Interest 106103.
N Number of Periods. Annual Interest Rate How many years. For year 3 the principal amount is 1060 6360 112360. To calculate the amount of simple interest over 5 years you simply multiply the interest earnt in year one by five - 125 5 625.
