Financial Mathematics Quiz Worksheet - Math Studies 12 Year 2 Page 5
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15 Write your FULL name: ________________________________________
2
51.45
51.72
3
37.15
37.43
4
30.11
30.39
5
26.14
26.26
From the table,
(a)
find the monthly repayment on a loan of AUD 1000 at 18.5% per annum taken over 1 year;
(b)
calculate the total amount to be repaid on a loan of AUD 8000 taken over 5 years, if the
interest rate is 18% per annum.
Working:
Answers:
(a) …………………………………………..
(b) ..................................................................
(Total 4 marks)
9.
The table shows part of a currency conversion chart. For example GBP 1 is equivalent to
FFR 8.33.
GBP
USD
FFR
GBP
1
p
8.33
USD
0.64
1
q
FFR
0.12
0.19
l
For all calculations in this question give your answers correct to two decimal places.
(a)
Calculate the value of
(i)
p;
(ii)
q.
(4)
(b)
Joe has USD 1500 to exchange at a bank.
(i)
Assuming no commission is charged, how much in GBP will Joe receive from the
bank?
(2)
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