For a car loan of \$15\,000 at a fixed simple interest rate of 10.7\% p.a. and a loan period of 3 years, calculate:
The total interest paid.
The total loan amount paid.
The size of the fortnightly repayments.
Calculate the monthly repayments for a \$10\,000 car loan, given that the fixed simple interest rate is 13.6\% p.a. and the loan period is 5 years.
Calculate the monthly repayments for a \$10\,000 car loan, given that the fixed simple interest rate is 8.6\% p.a. and the loan period is 2 years.
For a loan of \$11\,000, with a fixed simple interest rate of 9.3\% p.a. and a loan period of 10 years, find the cost of one repayment instalment if it is paid:
Weekly
Monthly
Quarterly
If Han takes out a car loan worth \$25\,000 with a fixed, simple interest rate of 4.8\% p.a. and wants to make monthly repayments over a loan period of 6 years, calculate:
The monthly interest rate as a percentage.
The amount of interest he pays.
The total amount he pays.
A loan of \$20\,000 has an interest rate of 12.4\% p.a. for a period of 5 years.
Is the total interest paid lower when you make fortnightly, monthly or weekly repayments?
If the period of the loan is reduced from 5 years to 1 year, is the total interest paid unchanged, less, or more?
If the original loan amount is tripled to \$60\,000 but the interest rate and period remain constant at 12.4\% p.a. and 5 years respectively, what happens to the weekly repayments?
The NSW car stamp duty rate is calculated as 3\% of the car’s market value up to \$45\,000 plus 5\% of the car’s market value that exceeds \$45\,000.
Find the stamp duty levied on a car worth:
\$16\,000
\$59\,000
\$64\,000
\$97\,000
If stamp duty on a vehicle is \$80 for the first \$5000 of the purchase price plus 5\% for every dollar over \$5000, calculate the stamp duty payable on a vehicle with a purchase price of:
\$9000
\$17\,000
\$78\,750
Stamp duty is \$3 for every \$100 (also \$3 for the remaining part that's less than \$100) of the purchase price of a small car. Calculate the stamp duty on a small Hyundai with a purchase price of \$22\,120.
Stamp duty charges on vehicles in one state of Australia are shown in the following graph:
Complete the table below:
| \text{Vehicle value }(\$) | 0 | 30\,000 | 60\,000 | |||
|---|---|---|---|---|---|---|
| \text{Stamp duty }(\$) | 1000 | 3000 | 6750 |
Vehicle stamp duty is 2\% of the purchase price up to \$30\,000, plus 14\% for every dollar between \$30\,000 and \$40\,000, plus 5\% for every dollar over \$40\,000.
Complete the table below:
| \text{Vehicle value }(\$) | 0 | 30\,000 | 45\,000 | 60\,000 | 70\,000 |
|---|---|---|---|---|---|
| \text{Stamp duty }(\$) | 600 | 3750 |
Construct a piecewise graph that shows the stamp duty for cars from \$0 to \$100\,000.
Use the graph to find the following, to the nearest \$100:
The stamp duty on a \$80\,000 car.
The cost of a car if the stamp duty is \$5000.
Han wishes to purchase a car valued at \$50\,000. He has \$25\,000 in savings and intends to take out a car loan to cover the remainder of the cost. After researching, he finds a lender that offers a fixed simple interest rate of 7.5\% p.a. and a loan period of 4 years.
If Han wants to pay off the loan in monthly instalments, calculate:
The principal amount of the loan.
The total amount of interest on the loan.
The total loan amount to be repaid.
His monthly repayments.
The stamp duty payable on the car’s value. Take note that the NSW rate is calculated as 3\% of the car’s market value up to \$45\,000 plus 5\% of the car’s market value that exceeds \$45\,000.
Stamp duty charges based on the value of a car are listed in the following table:
Calculate the stamp duty on a car valued at:
\$756
\$29\,900
\$106\,500
\$1160
\$32\,150
| Car value | Stamp duty |
|---|---|
| \$800 \text{ or less} | \$40 |
| \$800 \text{ to } \$30\,000 | 5\% |
| \$30\,000 \text{ to } \$35\,000 | \$1500 + 12\% \\ \text{for the amount} \\ \text{over } \$30\,000 |
| \$30\,000 \text{ or more} | 6\% |
Stamp duty in one state is based on the market value of the vehicle, regardless of the price paid. The rates are:
2.5\% of the market value, for vehicles up to \$52\,009, or
\$1301 plus 5\% of every dollar over \$52\,009
Calculate the stamp duty, correct to the nearest dollar, on a vehicle with a market value of:
\$52\,100
\$18\,000
\$111\,800