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Revision of Financial Maths
LCHL Maths Mr. Roche 2014 1
February 10, 2014
Financial Maths
Changing AER to MER
Sum geometric series
Future value formula
Amortisation
Revision of Financial Maths
LCHL Maths Mr. Roche 2014 2
February 10, 2014
I want a pension that will pay out a lump sum of €60,000 and then €30,000 a year at the start of the following 25 years. If the AER is 3%:
(i) How big must my pension pot be?(ii) How much will I have to save each month into my pension over 30 years?
I want a pension that will pay out a lump sum of €60,000 and then €30,000 a year at the start of the following 25 years. If the AER is 3%:
(i) How big must my pension pot be?(ii) How much will I have to save each month into my pension over 30 years?
Revision of Financial Maths
LCHL Maths Mr. Roche 2014 3
February 10, 2014
I wish to take out a mortgage/loan for €200,000 @ 3.5% AER for 25 years. What will my monthly repayments be?
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