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Unit 1Topic 1.4Question BankSL

Mathematics: Analysis and Approaches · Unit 1: Number and Algebra

Financial applications

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4

Questions

18

Total marks

Question 1 of 44 marks

Simple interest and loans

[Maximum mark: 4]Calculator permittedAdrian took out a loan for a new house that costs $125000\$125000. The bank offered him 3.5%3.5\% per annum simple interest for 77 years. Calculate the total value Adrian must repay the bank.

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