Modelling growth and decay using recursion
General Maths Units 3 and 4 (2023+)
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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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Video tags
vce maths
Nominal and effective interest rates
nominal interest rates
effective interest rates
per annum interest rates
financial maths
vce further
further maths
further units 3 and 4
further 3 and 4
difference between nominal and effective interest
how to calculate effective interest rate