Interest (Grade 10 NSC Matric Mathematical Literacy): Flashcards

Pay back more than borrowed

Money grows over time

% charged for borrowing over time

$\text{Principal} \times \text{Rate}$

$(\text{Interest} \div \text{Original}) \times 100$

Starting point for bank interest rates

Higher interest rates on loans

Higher interest rate offered

$P \times R \times T$

Cash much cheaper than hire purchase