Grade 9 Maths Finance Summary notes. Notes cover rules on Simple Interest, Compound Interest, Compound intervals, Inflation, Depreciation. Notes can be used by any High School Math students
, Simple Interest
- Interest is calculated on the principal amount EVERY year.
The final amount after the investment/loan period is given by the formula:
A = P (1 + i n)
A = final amount
P = initial amount / loan amount
i = interest rate expressed as a decimal (divide rate by 100)
n = investment / loan period
How to find the amount of simple interest gained (investment) or paid
(loan)
- To only find the Simple Interest after an investment / loan period:
Simple interest = P x i x n = Pin
- If you first found the Final Amount after an investment / loan by the
following formula
A = P (1 + i n)
>> THEN APPLY THE FOLLOWING FORMULA:
Simple interest = Amount - Principal
SI = A - P
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