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Section: Modelling growth and decay using recursion
Course: General Maths Units 3 and 4
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Nominal and effective interest rates
About Lesson
This video is part of the Further Maths Units 3 and 4 course and completes this section of the course. Looking at the difference between nominal and effective interest rates, there are a number of examples give of what a nominal rate is, how to convert a per annum interest rate to monthly/quarterly/weekly etc. I look at what effective interest rates are with a detailed look at how to calculate them by hand and using the CAS. This video does all it can to help you understand this fascinating and very "real world" topic.
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