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Financial Mathematics

We estimate MA12-FM is worth about 6 marks out of 100 under the new Mathematics Advanced syllabus. Practise 24 exam-style questions (multi-part, multiple choice, numerical answer) with instant marking and a worked solution for every question.

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Example questions

Example 1 · 1 mark · multiple choice

A loan of $25,000 is repaid with 60 monthly repayments of $520. How much interest is paid in total?

  1. A$520.00
  2. B$5,200.00
  3. C$6,200.00
  4. D$31,200.00

Example 2 · 1 mark · multiple choice

A loan of $15,000 is charged interest of 1% per month. Interest is added at the end of each month, and then a repayment of $400 is made. How much is owed after the first repayment?

  1. A$14,600.00
  2. B$14,746.00
  3. C$14,750.00
  4. D$15,150.00

Example 3 · 5 marks · multi-part

Jordan deposits $500 into a savings account at the end of each month. The account earns interest of 0.4% per month, compounded monthly.

Answers and worked solutions appear when you practise these questions.

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