percentage stuff
Savings Investigation Sammy and Oscar have been allocated £4000 with a 2 year period of time. Their task is to investigate the current savings options available for the amount they have been given. To do this, they will find 5 different savings accounts from a range of banks. they must assume that the money and the interest earned stays in the account until my investment period is up. Compound interest formula:A=P (1+R/100) ^nA-amount earnedP-principal amountR- Raten- How long (per annum) In order to understand the process of compound interest, they will find the total interest earned from the first bank without using the formula.
Halifax Premium Savings DirectA telephone savings account giving you 24/7 access to your account, offering tiered interest up to 4.80% AER.
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As their principal amount is £4000, they AER will be 3.91 %.Multiplier: 1.03911st year- £4000 * 1.0391= £4156.402nd year- £4156.40 * 1.0391=£4318.92Therefore, total interest earned = £4318.92 Barclays
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AER- 5.6 % Formula – A= P (1+ R/100) ^nNew principal amount= £4000 (1+ 5.6/100) ^2=£4460.54Natwest
| Savings Direct rates | |
| Balance | AER |
| £250,000+ | 4.95% |
| £100,000 – £249,999 | 4.90% |
| £50,000 – £99,999 | 4.85% |
| £25,000 – £49,999 | 4.80% |
| £1 – £9,999 | 4.70% |
AER- 4.7 %Principal amount= £4000New principal amount= £4000 (1+ 4.7/100) ^2 = £4384.84 Smile internet bankWe know saving can be boring, but it’s great to have a big umbrella for that rainy day. With smile you get:· 5.00% gross AER* if you’re a smile current account holder · you can kick off savings with just £1 · you can withdraw your cash whenever you want – to make it easier we even give you a cash card to use in over 56,000 LINK machines. Even if you don’t have a smile current account you still get 4.15% gross AER*Assuming they do not have a smile current account holder their AER will be 4.15 %New principal amount= £4000 (1+4.15/100) ^2 = £4338.89
Loyds TSB
Guaranteed
Tiered interest rates of up to 4.40%* AER
AER- 4.4%New principal amount = £4000 (1 + 4.4/100) ^2 = £4359.74conclusionfrom this investigation they can conclude that Barclays offers the best AER rate with an amount of £460.54 earned over a period of 2 years. However they did not include the gross or net rate in their investigation to keep the investigation fair and easy to find the more profitable bank.
Filed under Uncategorized | Comment (0)Probability
We did a page on Probability! Look at it, its in the links in the top corner of this page.
Filed under Uncategorized | Comment (0)the basics of trigonometry
An easy way to remeber how to do trig is SOH-CAH-TOA. And this is our version:
The Sammy & Oscar adventures
Sammy and Oscar Happily
Created A House…
Their Own Abode
tune in next time for more on the Sammy and Oscar adventures
Filed under Uncategorized | Comment (0)Hello world!
HIYA
we’re Amber and Ellie, the dream team, and we’re here to help you sort out any maths problems you face- or we’ll try anyway! one thing you need to know about us is that we are very lazy, and we may be a bit confusing! also we love jhonny Depp. don’t you think he has perfect face proportion miss Henderson?? anyways we’ll leave with a piccy of our hero and also another very cute guy with perfect face proportion called hayden christensen- buhbye!!!!!
