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Present value, annuities and amortisation

Discount future sums to present value and calculate loan and mortgage repayments with the amortisation formula.

5th Year6th Year Higher
16practice questions

Multiple choice: 4 · Numeric answer: 10 · Put in order: 1 · Written answer (self/teacher assessed): 1

Each question has up to three hints, a worked explanation, and is tracked in your progress and review plan.

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Multiple choicePaper 1 – Number
Why is the total amount repaid on a 30-year mortgage much larger than the amount borrowed?
Choose one answer
Hint 1

What is charged on money you still owe?

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