How to work out compound interest.wmv

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Category:

Education

Tags:

• mod3
• higher
• gcse
• maths
• teaching
• unit1
• unit2
• unit3

[NintendoMaster098]

Woah. My teacher gave me a forumla for this but I had NO IDEA what it meant or what to do with it. Now I get it! Thanks! I have a big test tomorrow and I got this just in time!

[JamilELBarbir]

So much thank you

[tcader14]

YOU ARE A LIFE SAVER !!!

[katieoxtoby]

Brilliant video, thanks so much. I'm practising online reasoning tests for recruitment processes on grad schemes, and your video has just helped me overcome a massive hurdle! Is there any quick way of doing if you don't have a calculator that has a 'to the power of' button though? Or should I invest in a better calculator? :-)

[devillord18]

Another method. You can just do 100% + 3% = 103%. Then 103% / 100 = 1.03.

Multiply 1.03 with the answer for every year.

Year 1: 1.03 x £2000 = £2060

Year 2: 1.03 x £2060 = £2121.8

etc...

OR

Year 1: 103(%)/100 x £2000. Same method but takes longer.

etc...

Method 1 is fastest, if you're not working out the interest, but of course, to find the interest just takeaway answer new answer from old answer.

Just another way i wish to share with others, but i use your way when interest is needed :)

[devillord18]

@nickyholder It's true. In class i can never concentrate probably because the teacher speaks too fast as well as the accent and pronounciation of the word is not that good i have trouble understanding... But this uploader has clear voice and explaination. Should help me "heaps" as well in exam next year!

[nickyholder]

Thank you so much, this helped me heaps! i never really understood this in class but youve made it so much easier :) thanks alot

[cheatmaster786]

why do you show off with your calculators??

[motheg7]

thank u soo much... i have an exam next morning and i was really struggling with this so thanks again

[SailorVenusFan123]

thanks for this video its helped me a lot