Bridge Of Don Academy Maths Dept.

Today we are learning to … understand earnings.

Looked at income tax: http://www.hmrc.gov.uk/rates/it.htm

National Insurance: http://www.hmrc.gov.uk/rates/nic.htm

Discussed superannuation (pension contributions) and how to calculate NET pay:

http://www.ir35calc.co.uk/PAYE_NI_Net_Salary_Tax_Calculator.aspx.

Discussed “compound interest” and how to calculate it quickly, using Fry from Futurama as an example of how money/interest can accrue over long periods of time.

HOMEWORK: Find out the interest rate offered on savings accounts at YOUR bank.

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