Using a Finance Solver to Find Interest Rates, Time Taken, and Regular Payments (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
For investments with additional payments, what signs do PV and PMT have in the finance solver?
For investments with additional payments, what signs do PV and PMT have in the finance solver?
Both negative
What sign does PV have for a reducing balance loan?
What sign does PV have for a reducing balance loan?
Positive
What sign does PMT have when you receive regular payments from an annuity?
What sign does PMT have when you receive regular payments from an annuity?
Positive
When finding a minimum payment to meet a target, how should you round the calculated value?
When finding a minimum payment to meet a target, how should you round the calculated value?
Round up
When finding how many complete regular annuity payments you receive, how should you round ?
When finding how many complete regular annuity payments you receive, how should you round ?
Round down
Which are the five key finance solver variables?
Which are the five key finance solver variables?
, , , ,
What formula calculates the final payment when there's a remaining balance?
What formula calculates the final payment when there's a remaining balance?
Regular payment + Remaining balance
How do you calculate total interest paid on a loan?
How do you calculate total interest paid on a loan?
Total repayments - Principal
For monthly compounding and monthly payments, what values do and have?
For monthly compounding and monthly payments, what values do and have?
Both equal 12
What is the general sign convention rule in finance solver calculations?
What is the general sign convention rule in finance solver calculations?
Money out is negative, money in is positive