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Core Maths
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Interest and depreciation
This task involves investigating various aspects of interest and depreciation, including compound interest and the effects of calculating compound interest over different periods of time (e.g. monthly vs. weekly). The task requires a good understanding of calculation of percentages and substitution into formulae.
The presentation can be used to introduce and guide the task and also contains the teachers' notes. The first part of the task involves calculating the Annual Equivalent Rate (AER) where interest accrues annually, monthly or weekly. The required formulae are given. Students need access to a spreadsheet in order to carry out calculations and display a graph of their results.
The final slides of the presentation ask students to calculate the depreciation of the value of cars and display their results graphically.
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