use a recurrence relation, 𝐴_(n+1)=𝑟𝐴_𝑛−𝑅 (where 𝑅 = monthly repayment) to model a reducing balance loan and investigate (numerically or graphically) the effect of the interest rate and repayment amount on the time taken to repay the loan
4.1.2.2
with the aid of appropriate technology, solve problems involving reducing balance loans, e.g. determining the monthly repayments required to pay off a housing loan
