Investments & Savings (Leaving Cert Mathematics): Flashcards

Each deposit stays in account for different time period

$(1+i_{\text{monthly}})=(1+i_{\text{annual}})^{1/12}$

The entire period (all months)

1 month (or 1 period)

Geometric series

$S_n=\frac{a(1-r^n)}{1-r}$

Number of terms (deposits)

To maintain precision in calculation

€6895.20

€109.67