Interest and repeated change
Pages
Simple interest
Interest paid on the starting amount only, so the same sum is added every year.
Repeated percentage change
Applying the same change repeatedly by raising the multiplier to a power.
Successive different changes
Combining two changes into one multiplier; a 20% rise then 20% fall loses money.
Simple versus compound interest
Why the same rate pays differently under the two schemes, and the widening gap.
Practice
Practice
Simple interest
Interest paid on the starting amount only, so the same sum is added every year.
PracticeRepeated percentage change
Applying the same change repeatedly by raising the multiplier to a power.
PracticeSimple versus compound interest
Why the same rate pays differently under the two schemes, and the widening gap.
PracticePercentage change review
Increase and decrease multipliers, repeated change, and reverse percentages.