DP Mathematics: Applications and Interpretation Questionbank

Using your answers to parts (a) and (b)(i), calculate how much interest they will have paid in total during the first $10$ years.

Find the amount Raul and Rosy will still owe the bank at the end of the first $10$ years.

Find the amount they will pay the bank each month.

For option 2, find the minimum value of $x$ that Juliana would need to invest each year. Give your answer to the nearest dollar.

For option 1, determine the minimum amount Juliana would need to invest. Give your answer to the nearest dollar.

Find the total amount paid for the car.

Bryan’s car depreciates at an annual rate of 25 % per year.

Find the value of Bryan’s car six years after it is purchased.

State which option Bryan should choose. Justify your answer.

Find the repayment made each quarter.

Find the interest paid on the loan.

State which option Bryan should choose. Justify your answer.

Find the total amount paid for the car.

Find the annual interest rate, $r$.

Bryan chooses option B. The car dealership invests the money Bryan pays as soon as they receive it.

If they invest it in an account paying 0.4 % interest per month and inflation is 0.1 % per month, calculate the real amount of money the car dealership has received by the end of the 6 year period.

Find the amount to be borrowed for this option.

Find the repayment made each quarter.

Find the amount to be borrowed for this option.

Find the annual interest rate, $r$.

Find the interest paid on the loan.

Calculate the monthly repayment using option 1.

Calculate the total amount Sophie would pay, using option 1.

the number of months it will take for Paul to repay the loan.

Use your answer to part (a)(i) to calculate the amount remaining on her mortgage after the first 10 years.

option 2.

the total amount that Paul has to pay.

option 1.

Calculate the total amount Sophie would pay, using option 2.

the total amount that Paul has to pay.

option 1.

Calculate the number of months it will take to repay the mortgage using option 2.

Hence calculate her monthly repayment for the final 10 years.

the amount Paul pays each month.

option 2.

Calculate the amount Yejin needs to have saved into her annuity fund, in order to meet her retirement goal.

Yejin has just turned 28 years old. She currently has no retirement savings. She wants to save part of her salary each month into her annuity fund.

Calculate the amount Yejin needs to save each month, to meet her retirement goal.