Growth and decay (Edexcel GCSE Maths): Flashcards
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12 cards from this deck
Definition of compound interest
Definition of compound interest
Interest on original amount + accumulated interest
Growth multiplier formula
Growth multiplier formula
Decay multiplier formula
Decay multiplier formula
Formula for repeated percentage change
Formula for repeated percentage change
What represents in growth/decay formula
What represents in growth/decay formula
Number of time periods
Multiplier > 1 represents
Multiplier > 1 represents
Growth
Multiplier < 1 represents
Multiplier < 1 represents
Decay
What depreciation involves
What depreciation involves
Repeated percentage decreases
Type of changes in growth and decay problems
Type of changes in growth and decay problems
Repeated percentage changes
Exponential growth: same percentage or same amount?
Exponential growth: same percentage or same amount?
Same percentage
Why use index notation over repeated multiplication?
Why use index notation over repeated multiplication?
More efficient
£40,000 at 3% compound interest for 3 years equals
£40,000 at 3% compound interest for 3 years equals
£43,709.08