use arithmetic sequences to model and analyse practical situations involving linear growth or decay; for example, analysing a simple interest loan or investment, calculating a taxi fare based on the flag fall and the charge per kilometre, or calculating the value of an office photocopier at the end of each year using the straight-line method or the unit cost method of depreciation
ACMGM074
use geometric sequences to model and analyse (numerically, or graphically only) practical problems involving geometric growth and decay; for example, analysing a compound interest loan or investment, the growth of a bacterial population that doubles in size each hour, the decreasing height of the bounce of a ball at each bounce; or calculating the value of office furniture at the end of each year using the declining (reducing) balance method to depreciate
ACMGM096
with the aid of a calculator or computer-based financial software, solve problems involving compound interest loans or investments; for example, determining the future value of a loan, the number of compounding periods for an investment to exceed a given value, the interest rate needed for an investment to exceed a given value
