Question

(a) Lenin takes a loan of $6000 over 10 years at annual rate of 6% compounded monthly.

1] What is the monthly repayment? [2 marks]

2] What percentage of each repayment is interest? [2 marks]

(b) =

+ ( −)

−

where x = 9, y = 41 and z =30

1] Calculate exact value of T. [2 marks]

2] Give your answer to T in two significant figures. [1 marks]

3] Give your answer to T in three decimal figures. [1 marks]

Answer 1

Answer:

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