Brainlag PlusRepeated percentage change with a multiplier and a power, comparisons with simple interest, and how long it takes to reach a target.
A multiplier and a power
3% compound interest a year: each year × 1.03.
After 5 years: × 1.03⁵.
- £2000 at 3% for 5 years
- 2000 × 1.03⁵ = 2318.548...
- = £2318.55
Depreciation of 15% a year: × 0.85 each year. After 4 years: × 0.85⁴.
The rest of this lesson and its 7 practice questions are in Plus.
Screen 1 of 3, free to read.
- 7 exam-style questions, marked as you go, each with a worked solution
- The Scientific Calculator beside every question
- Anything you get wrong is saved to your flashcards