Investing Money by Regular Instalments (HSC SSCE Mathematics Advanced): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Which instalment earns compound interest for the longest time period?
Which instalment earns compound interest for the longest time period?
The first instalment
In the GP sum formula , what does represent?
In the GP sum formula , what does represent?
The common ratio
What is the recommended approach for solving regular instalment problems?
What is the recommended approach for solving regular instalment problems?
Derive formula within each question
For monthly compounding, how do you find the monthly interest rate from the annual rate?
For monthly compounding, how do you find the monthly interest rate from the annual rate?
Divide annual rate by 12
How many monthly periods are there in 10 years for monthly instalments?
How many monthly periods are there in 10 years for monthly instalments?
120 months
When using logarithms to find years, how should you round a result like ?
When using logarithms to find years, how should you round a result like ?
Round up to 24
For how many periods does the final instalment earn interest?
For how many periods does the final instalment earn interest?
1 period
For weekly compounding, how do you find the weekly interest rate from 7.8% pa?
For weekly compounding, how do you find the weekly interest rate from 7.8% pa?
Divide 0.078 by 52
Why do regular instalments with compound interest form a geometric progression?
Why do regular instalments with compound interest form a geometric progression?
Each term has a constant ratio
In the GP for regular instalments, which power represents the first term ?
In the GP for regular instalments, which power represents the first term ?
The smallest power (usually 1)