Interactive practice questions
Ivan takes out a car loan for $\$24000$$24000. He is charged $8.1%$8.1% per annum interest, compounded monthly. Ivan makes repayments of $\$450$$450 at the end of each month.
Complete the values in the empty cells in the table below. Give your answers correct to the nearest cent.
| Month | Opening Balance | Interest | Repayment | Closing Balance |
|---|---|---|---|---|
| 1 | $24000$24000 | $162.00$162.00 | $450$450 | $23712.00$23712.00 |
| 2 | $\editable{}$ | $\editable{}$ | $\editable{}$ | $\editable{}$ |
| 3 | $\editable{}$ | $\editable{}$ | $\editable{}$ | $\editable{}$ |
Easy
7min
Kate takes out a personal loan for $\$40000$$40000. The interest on the loan is charged quarterly. Kate makes repayments of $\$900$$900 at the end of each quarter.
Easy
9min
Maximilian takes out a mortgage to purchase an investment property. A portion of his payments and balances are shown in the table below.
Easy
8min
Xanthe takes out a car loan.
Easy
6min
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