Calculate simple interest including in financial contexts.

Solve problems step-by-step involving multipliers over a given interval, for example, compound interest, depreciation, etc.

e.g. A car worth £15,000 new depreciating by 30%, 20% and 15% respectively in three years.

[see also Percentage change, 2.03c]

Express exponential growth or decay as a formula.

e.g. Amount £A subject to compound interest of 10% p.a. on £100 as \(A = 100×1.1^n\)

Solve and interpret answers in growth and decay problems.

[see also Exponential functions, 7.01d, Formulate algebraic expressions, 6.02a]