Compound Interest (Grade 10 NSC Matric Mathematics): Flashcards

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Compound Interest
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Define compound interest

Interest on principal + accumulated interest

Compound interest formula

A=P(1+i)nA = P(1 + i)^n

In A=P(1+i)nA = P(1 + i)^n, what is A?

Accumulated amount (final value)

In A=P(1+i)nA = P(1 + i)^n, what is P?

Principal amount (initial investment)

In A=P(1+i)nA = P(1 + i)^n, what is i?

Interest rate as decimal (e.g., 5% = 0.05)

In A=P(1+i)nA = P(1 + i)^n, what is n?

Number of years

Phrase describing compound interest

Interest earning interest

Type of growth in compound interest

Exponential growth

R10,000 at 9% for 10 yrs: simple vs compound difference?

Compound earns R4673.64 more

Effect of compound interest on debt

Works against you; debt grows quickly

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