simple interest? (1 Viewer)

[-pari-]

in series and sequences, we have to calculate compound interest and stuff

do we need to know how to calculate simple interest?


has it/will it ever be asked?

 

[jb_nc]

You may need to, however, it's not hard to remember I = PRN. I'm pretty sure I used the formula in the HSC to back calculate the simple interest rate compared to the variable interest rate; can't really remember though.

 

[Riviet]

In the topic of series and sequences, simple interest isn't really related, but is covered in the financial mathematics section of the course. It's examinable.

 

[-pari-]

aite cool =) thanks

 

[-pari-]

aite cool =) thanks