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## compound interest monthly/quarterly

__Working out credit card interest over a number of days also requires this type of alteration to the formula.__

**$10,000 at 6% p.a. calculated monthly for 4 years.**

__Compound Interest example:__r must become 0.06 / 12 and n must become 4 x 12 = 48

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**Interest charged at 19% p.a. calculated daily for 39 days.**

__Credit Card Example:__r must become the daily interest rate (0.19 / 365) divided by 100 and n = 39

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order of operations

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DATA CATEGORICAL DEFINITIONS

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Rationalising the denominator

**Calculating Interquartile range including outliers**

In this topic, you'll be asked to make a 5 point summary and draw ad whisker and box plot.

In order to do this, you need to be able to do some calculations to work out:

1. The median (Q2)

2. Q3 - the upper quartile

3. Q1 - the lower quartile

4. The minimum (Q1)

5. The maximum (Q5)

6. Outliers

Outlier calculation involves finding the range within which the standard scores lie. When drawing a whisker and box plot you'll draw your maximum as the next lowest score if the highest score is an outlier, for example.

Q1 - (1.5 x IQR) = lowest standard score

Q3 - (1.5 x IQR) = highest standard score

Outliers lie outside these defined boundaries; and that is the very definition of why they're called 'Outliers'.

The Interquartile Range is used along with the calculation of the mean and standard deviation to standardise scores - like in the HSC.