loan repayments question

Sue and Alex need to borrow $200000 to purchase an apartment. The bank will charge 6%p.a. interest compounded monthly and Sue and Alex agree to pay the bank back in equal monthly instalments over 20 years.

(1) Show that A1=200000*1.005^(1-m) <點解 唔好只比ans.please

(2) Write an expression for A2

(3) By developing a series find the amount of Sue and Alex's monthly instalment.

Interest is only changed on the balance of the account each month.

Yenni borrows $20000. interested is changed at 12%pa compounded monthly. She starts repaying the loan one month after taking it out with monthly instalments of $300

(a) how much does she still owe the bank at the end of 6 years

(1)Volue of 1st instalment at the end of 6years





1 Answer

  • 阿一
    Lv 7
    1 decade ago
    Favorite Answer

    你試o下代o的簡單o既數入去, 咁你就會易明o的

    (1+0.12/12)^71 你唔明邊part?

    0.12 = 12%

    0.12/12 = 年利率轉成每月利率



    你由o的簡單example開始睇起(書度大把), 睇都幾次你會睇得明嫁喇

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