Mind map
Percentage change
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Percentage change
Compound Interest
- I put £30,000 in a bank and it has an interest rate which makes it rise by 4% every year. How much money will I have after 5 years?
- 30000 x (multiplier)^number of years
- multiplier is 0.04 for 4%, but we want an increase, so it's 1.04
- 30000 x (1.04)^5
- £36499.59
- 30000 x (multiplier)^number of years
- I put £30,000 in a bank and it has an interest rate which makes it rise by 4% every year. How much money will I have after 5 years?
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- Description
- ACA Maths Mind Map on Percentage change, created by Tomas King on 31/05/2018.
- Created by
- Tomas King
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- History
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- Created by Ellen Billingham · May 5, 2013
- Copied by Tomas King · May 31, 2018
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