Analysing Financial Situations Using Amortisation Tables (VCE SSCE General Mathematics): Quizzes
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Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is an amortisation table used for?
What is an amortisation table used for?
Tracking loan repayments over time
Why is the final payment usually different from regular payments?
Why is the final payment usually different from regular payments?
To pay exact remaining balance + interest
What is the formula for calculating the final payment?
What is the formula for calculating the final payment?
If balance is 2000 USD and interest is 40 USD, what is the final payment?
If balance is 2000 USD and interest is 40 USD, what is the final payment?
2040 USD
What are the two methods for calculating total interest?
What are the two methods for calculating total interest?
Subtract principal OR sum interest column
How do you calculate total interest using Method 1?
How do you calculate total interest using Method 1?
In a reducing balance loan, how does interest paid change over time?
In a reducing balance loan, how does interest paid change over time?
Decreases
In a reducing balance loan, principal paid off each period:
In a reducing balance loan, principal paid off each period:
Increases
How do interest and principal move in a reducing balance loan?
How do interest and principal move in a reducing balance loan?
Opposite directions
In a compound interest investment, how does interest earned each period change?
In a compound interest investment, how does interest earned each period change?
Increases