Lone Repayments (1 Viewer)

[LoneWolf1990]

Is there an easy way of doing those type of questions, like a simple formula to remember?

 

[YannY]

Is there an easy way of doing those type of questions, like a simple formula to remember?

He paid a many the first time so now he has b many. Then the second time he paid c many and now he has b-c many.

Rofl try that

 

[vds700]

lol good one

 

[177152]

If it's a simple one it might be a formula that you regularly use, just numbers changed... But more than likely in the HSC, It'll be a hard one that takes a lot of thinking... Like a miss a time frame or a pay monthly, interest yearly. These are usually around question 10.. Get some past papers and have a look at what you could do for each, it's all about technique =)

 

[aakash]

A/M = { 1-(1+i)^(-n) }/i

(this is also the general form of the equation that u get after u sum the GP)

Where:
A= Loan
M=installments per period (monthly, say)
n=number of months (montly installments)
i= rate of interest per period (rate per month)

But this calculation would give you atmost 2 marks.
the other part of the question will usually ask u to derive this (u will hav numbers instead).