UNIT OVERVIEW

This topic connects mathematics to everyday money decisions. Every time prices increase at shops, when your family discusses a loan, or when you hear about population growth — you are seeing the mathematics from this unit.

In this unit, you will learn to:

• Distinguish between simple and compound growth
• Apply the simple growth formula $A = P(1 + in)$
• Apply the compound growth formula $A = P(1 + i)^n$
• Calculate interest on savings and investments
• Understand hire purchase agreements and calculate total costs
• Apply growth formulas to inflation and price predictions
• Model population growth using compound growth
• Work with foreign exchange rates
• Make informed financial decisions using mathematical reasoning

Where you will use this:

• Banking: Understanding savings account interest
• Hire Purchase: Calculating the true cost of buying on credit
• Inflation: Predicting future prices
• Population Studies: Planning for community growth
• Foreign Exchange: Converting currencies for international purchases

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