Compound Interest (Leaving Cert Mathematics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
ShowHide
Practise the questions
12 questions from this quiz
What is compound interest?
What is compound interest?
Interest on principal & accumulated interest
What does 'principal' mean in compound interest?
What does 'principal' mean in compound interest?
The original amount invested
How does compound interest differ from simple interest?
How does compound interest differ from simple interest?
It's calculated on the growing total
What is the compound interest formula?
What is the compound interest formula?
What is called in the compound interest formula?
What is called in the compound interest formula?
The multiplier
What decimal should you use to multiply for 7.5% interest?
What decimal should you use to multiply for 7.5% interest?
1.075
What is the interest on €2800 for 3 years at 7.5% p.a.?
What is the interest on €2800 for 3 years at 7.5% p.a.?
€678.43
What formula finds the rate when principal and interest are known?
What formula finds the rate when principal and interest are known?
Rate
What is depreciation?
What is depreciation?
Losing value over time
What characterises the multiplier for depreciation?
What characterises the multiplier for depreciation?
Always less than 1
What does AER stand for?
What does AER stand for?
Annual Equivalent Rate
A machine is worth €58,320 after 3 years of 10% annual depreciation. What was its original value?
A machine is worth €58,320 after 3 years of 10% annual depreciation. What was its original value?
€80,000