need help with
2013 Further exam 1, business related maths, question 4 and 7
2018 NHT further exam, matrices, question 8
Thanks
2013 Exam 1
Question 4 - Price after deposit = 15000-3000=12000
Total amount paid = 36*400 = 14400
Total interest paid = 14400-12000= 2400
Total interest paid per year = 2400/3 = 800
Interest rate per year = (800/1200) * 100 = 6.6667 therefore D
Question 7
As you can see from the graph the annual interest earnt is $50
This is (50/1000) * 100 = 5% per year
Now let the new amount of money invested = x
Amount of money earnt every year = 0.05x.
Therefore Amount of interest earned = x*0.05*8
Solve this for 600 gives us x=1500
I have not done the 2018 NHT exam and want to leave it till last so I will let someone else answer that question