Financial Mathematics Quiz Worksheet - Math Studies 12 Year 2 Page 4
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15 Write your FULL name: ________________________________________
Working:
Answers:
(a) …………………………………………..
(b) …………………………………………..
(Total 4 marks)
7.
(a)
In city Y, house prices have increased by 3% each year for the last three years. If a house
cost USD 180 000 three years ago, calculate, to the nearest dollar, its value today.
(b)
In city Z, a house worth USD 100 000 three years ago is now valued at USD 119 102.
Calculate the yearly percentage increase in the value of this house.
Working:
Answers:
(a) …………………………………………..
(b) ..................................................................
(Total 4 marks)
8.
The table below gives the monthly repayments for a loan of 1000 Australian dollars (AUD). The
interest rates are 18% per annum and 18.5% per annum, respectively.
Monthly repayments on AUD 1000
Number of
years of the
18% p.a.
18.5% p.a.
loan
1
94.75
95.07
4
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