Interest & Compound Interest Flashcards
1
Q
What does appreciation mean
A
Increase in value
2
Q
What does depreciation mean
A
Decrease in value
3
Q
What is the formula for compound interest
A
New Amount= Original Amount x (1+rate/100)
4
Q
How do you figure out 5% of 200
A
(200/100) x 5
5
Q
The value of a car depreciates over time by 20% per year. It was £2000 last year. What is its value now?
A
2000/5 = 400 = 20% 2000-400 = 1600
6
Q
What is the multiplier if a value has increased by 34%
A
x 1.34
7
Q
What is the multiplier if a value decreases by 20%
A
x 0.8
8
Q
What is the multiplier if a value decreases by 3%
A
x 0.97
9
Q
How do you figure out the multiplier if a value decreases by 42%
A
100- 42= 58
x 0.58
