Interest can be added to an amount of money when it is saved or borrowed. Credit agreements have an amount of interest built in.
Lindy puts into an account which pays interest at a rate of per annum.
How much money would she have after two months?
Georgina puts into an account which pays interest at a rate of p.a.
How much money would she have after a year?
Tom saves and deposits it in a high interest account which pays interest at a rate of per annum.
How much interest does Tom get if he leaves his money in the account for months?
Michelle invests in a Platinum Saver Account which pays interest per annum.
How much simple interest will she receive after months?
Mr. Schneider invests at per annum.
Eight months later he decides to lift out his interest to help pay for a night out.
How much will he draw out?
A sum of is invested in a bank. The rate of interest is per annum.
Calculate the simple interest gained in months.
A computer costs cash. The credit agreement terms are: deposit , followed by payments of . Find the extra paid on the credit agreement.
A cooker can be bought on a credit agreement by paying a deposit of and monthly payments of .
The cooker's cash price is . How much is the credit agreement price?
The cash price of an electric cooker is .
The credit agreement terms are: Deposit of the cash price and monthly instalments of .
Calculate the total credit agreement price of the cooker.
Ali wished to buy a motorcycle at .
He chose to pay by credit agreement.
The terms were deposit with monthly payments of .
How much was the total credit agreement price?