This video is the final in the section relating to recurrence relationships for the Year 12 General Maths course. Looking at the exciting subject of Interest rates over different time periods and effective interest rates, I look at what an effective interest rate is and how we can calculate it by hand and using the CAS. This is a topic which comes up in the exams all the time and few students remember (or known) how to do the questions. I also look at how we can turn nominal (per annum) interest rates into monthly, weekly, daily and quarterly rates and how this might affect an investment or loan. There are lots of worked examples and explanations on how to do VCAA questions.
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