Interest can be added to an amount of money when it is saved or borrowed. Credit agreements have an amount of interest built in.
Part ofApplications of MathsManaging finance
Radio 1 Newsbeat journalist Adina Campbell meets Nick, a 16 year old with a clear goal encouraging him to save.
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Adina Campbell investigates loans and credit, a topical issue as more than two thirds of 18-24 year olds in the UK have some form of debt.
Adina Campbell investigates debt, including how easy it is to get into by using store cards and credit cards.
