Compound Interest/Depreciation (Junior Cert Mathematics): Flashcards
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Definition of depreciation
Definition of depreciation
Process of reducing an asset's value over time due to use and age
Asset (in depreciation context)
Asset (in depreciation context)
Item that is losing value over time
Depreciation rate ()
Depreciation rate ()
Percentage by which asset value decreases each year
Initial value ()
Initial value ()
Original value/cost of asset when new
Final value ()
Final value ()
Asset value after depreciation over time
Depreciation formula
Depreciation formula
Variable in depreciation formula
Variable in depreciation formula
Final value after depreciation
Variable in depreciation formula
Variable in depreciation formula
Initial value of asset
Variable in depreciation formula
Variable in depreciation formula
Depreciation rate as decimal
Variable in depreciation formula
Variable in depreciation formula
Time in years
How to convert % to decimal
How to convert % to decimal
Divide by 100
Reason for subtracting from 1 in formula
Reason for subtracting from 1 in formula
Shows how much value remains each year
Why raise to power of
Why raise to power of
Calculates value decrease over time