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5.06 Investigating annuities using tables

Interactive practice questions

Calculate the annual installments needed to pay off a $\$110000$$110000 home loan at $7%$7% p.a. reducible interest if the installments are to be paid in equal amounts over $15$15 years. Give your answer correct to the nearest cent.

Annual installments on a $\$1000$$1000 loan
  Term of loan in years
Annual interest rate $10$10 $15$15 $20$20 $25$25 $30$30
$5%$5% $129.50$129.50 $96.34$96.34 $80.24$80.24 $70.95$70.95 $65.05$65.05
$6%$6% $135.87$135.87 $102.96$102.96 $87.18$87.18 $78.23$78.23 $72.65$72.65
$7%$7% $142.38$142.38 $109.79$109.79 $94.39$94.39 $85.81$85.81 $80.59$80.59
$8%$8% $149.03$149.03 $116.83$116.83 $101.85$101.85 $93.68$93.68 $88.83$88.83
$9%$9% $155.82$155.82 $124.06$124.06 $109.55$109.55 $101.81$101.81 $97.34$97.34
$10%$10% $162.75$162.75 $131.47$131.47 $117.46$117.46 $110.17$110.17 $106.08$106.08
  Term of Loan in years
Annual interest rate $10$10 $15$15 $20$20 $25$25 $30$30
$5%$5% $129.50$129.50 $96.34$96.34 $80.24$80.24 $70.95$70.95 $65.05$65.05
$6%$6% $135.87$135.87 $102.96$102.96 $87.18$87.18 $78.23$78.23 $72.65$72.65
$7%$7% $142.38$142.38 $109.79$109.79 $94.39$94.39 $85.81$85.81 $80.59$80.59
$8%$8% $149.03$149.03 $116.83$116.83 $101.85$101.85 $93.68$93.68 $88.83$88.83
$9%$9% $155.82$155.82 $124.06$124.06 $109.55$109.55 $101.81$101.81 $97.34$97.34
$10%$10% $162.75$162.75 $131.47$131.47 $117.46$117.46 $110.17$110.17 $106.08$106.08
Easy
2min

Using the financial table, calculate the monthly instalments required to pay off a $25$25-year loan of $\$1000$$1000 at $4%$4% p.a. monthly reducible interest.

Easy
1min

Using the financial table, calculate the monthly instalments required to save $\$50000$$50000 in $15$15 years if the savings account earns $3%$3% interest per annum, compounded monthly.

Easy
1min

Using the financial table, calculate the monthly instalments required to pay off a $15$15-year loan of $\$200000$$200000 at $7%$7% p.a. monthly reducible interest.

Easy
1min
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MA12-2

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