LoneWolf1990
Member
- Joined
- Mar 15, 2008
- Messages
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- HSC
- 2008
Is there an easy way of doing those type of questions, like a simple formula to remember?
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Lone Repayments (1 Viewer)
- Thread starter LoneWolf1990
- Start date
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 =)
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).
(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).