LC21-89A Financial Maths for Teachers of Leaving Cert Maths Higher Level (Week 4)

Financial Maths – 4 Sessions, 1 hour each

Note: Typed notes and instructional videos with worked solutions to exam questions will be provided as part of the course material.

Session 1 Wednesday September 15th 7p.m.

·       Present Value and Future Value

·       The Compound Interest Formula

·       Using Logs to Solve for t in Compound Interest Formula

·       Terminology –  APR/EAR/AER/CAR/Annuities/Amortisation/Mortgages/Pensions/Bonds

·       Link between Compound Interest Formula and Inverse Functions

Session 2 Wednesday September 22nd 7p.m.

·       Savings and Geometric Series

·       Converting Interest Rate from Annual to Monthly/Weekly Rate

·       Exam Questions on Savings

Session  3 Wednesday September 29th 7p.m.

·       Loans and Geometric Series

·       Amortisation Formula

·       Exam Questions on Loans and Amortisation Formula

Session 4 Wednesday October 6th 7p.m.

·       Pensions/Bonds

·       Depreciation

·       Exam Questions on Pensions

Learning Outcomes

·       Be able to manipulate the compound interest formula

·       Be able to convert from annual interest rate to monthly/weekly rate

·       Be able to work out questions involving savings/annuities

·       Be able to work out questions involving loans/amortisation

·       Be able to prove the amortisation formula

·       Be able to work out questions involving pension plans / bonds / depreciation

·       Be able to distinguish between the different types of exam question

·       Be able to use new techniques and resources for teaching financial maths at leaving cert honours level