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Earn +20 ptsQ: What is meant by the term compound interest?
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Which of the following equations could you use to find the nth term of a compound interest sequence?
The following is the answer.
How simple interest and compound interest affect investment exercises?
Compound interest gives you more, but at a low interest rate (less than 10%), the difference is negligible.
Type of interest is calculated by adding the interest earned to the principle?
Compound interest
What is earning interest on interest?
Compound interest. This is where you work out the interest on a number, then work out the interest on top of the number with the interest added.
What types of functions are used to model both types of simple interest and compound interest?
f(x)= mx+b for simple interest t(n)= abx for compound interest
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