Revision (Grade 11 NSC Matric Mathematics): Flashcards

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Interest calculated only on principal

Simple interest

Interest on principal + accumulated interest

Compound interest

Simple interest formula

A=P(1+in)A = P(1 + in)

Compound interest formula

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

Total value including principal and interest earned

Accumulated amount

Variable ii in interest formulas

Interest rate as a decimal

Variable nn in interest formulas

Time period in years

Simple interest growth pattern

Straight line

Compound interest growth pattern

Exponential

Why compound interest grows faster than simple

Interest on interest effect

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