have decided on the pool in the picture above the pool costs 6999 plus 219 for delivery it will cost 320 plus GST 15% to get an electrician to install a special plug for the pool the pool cover costs 479 however Mr Michael has negotiated a 20% discount the family have been given approval for a loan of up to 6999 Loan the bank to pay for the pool the lawn has an interest rate of 5.45% the loan & interests need to be repaid by the end of 12 months the family have saved 1000 to cover the cost of delivery installation and the cover they can spare one-tenth of their weekly income to repay the loan.can the Michael family afford to buy the spa pool you must show all working and state what you are calculating at each step
ck buyer financed $20,000 at the low interest rate instead of paying $18,000 cash (after the $2,000 rebate).
Required:
What was the effective rate of interest on the loan if the forgone cash rebate is treated as part of the cost of financing? (The 2.9% interest rate is a monthly compounded nominal rate.)
rt. How does it make u pay less interest and have less interest:
Vn+1 = 1.00405Vn - 1817.35, Vo= 34400
The term of the loan is 30 years with monthly payment of 1817.35 at an interest rate of 4.86 p.a
Pls tell me the answer regarding this particular equation
Q2) How much of the principal has been repaid? Fv - Vo is this the correct formula
Q3) Superannuation
Something like if u add money without tax why does it benefit your super account
I’m sorry to disturb you but I was hoping you could help as tmrw is my last writing lesson for my sac