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how to find compound interest rate gcse. Includes compound interest formulas to find principal interest rates or final investment value including continuous compounding A Pert. The interest earned is higher by 360 6360 - 6000.
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Compound interest or interest on interest is calculated with the compound interest formula. Following is the formula for calculating compound interest when time period is specified in years and interest rate in per annum. Calculate the interest on borrowing 40 for 3 years if the simple interest rate is 5 per year.
Compound interest Here the interest is added to the principal at the end of each year.
More Lessons for GCSE Maths Math Worksheets A collection of videos to help GCSE Maths students learn how to calculate compound interest. T Time period in years. As you move from year to year the principal amount continues to grow. First work out the amount of interest for 1 year by working out 5 of 40 which is 2.
