Interest is the amount charged by a lender to a borrower. It means that if you borrow some money from a bank, you have to pay back more than the money you borrowed. Equally, if you have a savings account and deposit some money, the bank will pay you interest as a sort of thank you for saving with them as you are effectively loaning them money. There are 2 main types of interest we need to be aware of. Compound interest and Simple interest. It is important to know the difference between these two, as it can affect how much money you earn or have to repay. For simple interest, you just pay or receive the exact same amount of interest every year. For simple interest, you just pay or receive the exact same amount of interest every year. I borrowed £2000 for 5 years at 4% interest rate per annum. How much interest do I repay? Simply multiply the numbers together. The interest I have to pay is 4 percent of 2000. Simple interest = 2000 X 0.4 X 5 = £400. So after 5 years I have paid £400 of simple interest on the money I loaned. But in reality, banks almost never charge simple interest. They prefer compound interest, which we will learn about in another video. Our teachers and animators come together to make fun & easy-to-understand videos in Chemistry, Biology, Physics, Maths & ICT. VISIT us at www.fuseschool.org, where all of our videos are carefully organised into topics and specific orders, and to see what else we have on offer. Comment, like and share with other learners. You can both ask and answer questions, and teachers will get back to you. These videos can be used in a flipped classroom model or as a revision aid. Twitter: https://twitter.com/fuseSchool Access a deeper Learning Experience in the FuseSchool platform and app: www.fuseschool.org Friend us: http://www.facebook.com/fuseschool This Open Educational Resource is free of charge, under a Creative Commons License: Attribution-NonCommercial CC BY-NC ( View License Deed: http://creativecommons.org/licenses/by-nc/4.0/ ). You are allowed to download the video for nonprofit, educational use. If you would like to modify the video, please contact us: info@fuseschool.org Click here to see more videos: https://alugha.com/FuseSchool
Algebraic fractions are simply fractions with algebraic expressions either on the top, bottom or both. We treat them in the same way as we would numerical fractions. In part 1 we saw how to simplify, and add and subtract algebraic fractions. We discovered that algebraic fractions follow the same pri
Work through this practice GCSE / K12 question on atomic number, atomic mass and electronic configuration. Read the question, and hit pause if you want to try answering it yourself. Then hit play again to watch how the teacher solves it. Click here to see more videos: https://alugha.com/FuseScho
The study of finches led to the development of one of the most important scientific theories of all time. In December 1831 a naturalist called Charles Darwin boarded the HMS Beagle, bound on a surveying voyage of South America. Whilst the ship and crew carried out coastline surveys, Darwin was fre
