When calculating compound interest, it is important to understand ... £45,000 ÷ 100 × 12.5 = £5,625 depreciation. Year 2: £45,000 - £5,625 = £39,375. £39,375 ÷ 100 × 12.5 = £4,921. ...

There's a well-known saying that compound interest is the “eighth wonder of the world.” While the quote’s origins are debated, the power of compound interest is undeniable. It can transform modest ...