Junior Cycle · Financial Maths
⏱ Tested in 1 exam question since 2024
Lesson 6 of 7
JCHL Financial Maths 6: Compound Interest and Depreciation
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- Compound interest (page 30): F = P(1+i)ᵗ — money GROWS, so it is plus
- Depreciation (page 30): F = P(1−i)ᵗ — value FALLS, so it is minus
- F = final value, P = starting value, i = rate as a decimal, t = number of years
Formula used
Compound interest: F = P(1 + i)ᵗ
Depreciation: F = P(1 - i)ᵗ
On page 30 of the log tables — read it off, don’t memorise.Most recent exam questions
- 2024 Q3(c)(i)
- 2024 Q3(c)(ii)
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