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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 3% 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 3% every year. How much money will I have after 5 years?
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- GCSE Maths (Year 8 Number 1) Mind Map on Percentage change, created by Ellen Billingham on 05/05/2013.
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- Ellen Billingham
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