Percentage change

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GCSE Maths (Year 8 Number 1) Mind Map on Percentage change, created by Ellen Billingham on 05/05/2013.
Ellen Billingham
Mind Map by Ellen Billingham, updated more than 1 year ago
Ellen Billingham
Created by Ellen Billingham almost 11 years ago
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Resource summary

Percentage change
  1. Compound Interest
    1. 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?
      1. 30000 x (multiplier)^number of years
        1. multiplier is 0.04 for 4%, but we want an increase, so it's 1.04
          1. 30000 x (1.04)^5
            1. £36499.59
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