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what is compound interest gcse maths. For example if you deposited 100 in the bank at 3 interest you would earn 3 on your money each year as 3 of 100 is 3 and you earn the same amount each year. MAIDISDIY MATHS 0000 0000 ooon OOOU.
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Compound interest is similar to simple interest in that the interest is added on annually. Compound Interest Calculator Find a Future Value Present Value Interest Rate or Number of Periods when you know the other three. Compound interest is where interest is paid on the interest from the year or whatever time frame is being used before as well as on the original amount This is different from simple interest where interest is only paid on the original amount.
You get interest on your interest.
MAIDISDIY MATHS 0000 0000 ooon OOOU. The Corbettmaths Practice Questions on Compound Interest. Compound interest is similar to simple interest in that the interest is added on annually. After one year you will have 100 10 110 and after two years you will have 110 10 121.
