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2 marksSimple Interest

CSEC Mathematics · January 2006 · Paper 2 · Question 1(b)(i)

A loan of $12 000 was borrowed from a bank at 14% per annum.

Calculate the interest on the loan at the end of the first year.

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Other parts of this question

  1. 1(a)(i)Using a calculator, or otherwise, calculate the exact value of (2 1/4 × 4/5) / (3/5 - 1/2).[4 marks]
  2. 1(a)(ii)Calculate correct to 3 significant figures, the value of 18.75 - (2.11)^2.[3 marks]
  3. 1(b)(ii)Calculate the total amount owing at the end of the first year.[1 mark]
  4. 1(b)(iii)Calculate the amount still outstanding at the start of the second year.[1 mark]
  5. 1(b)(iv)Calculate the interest on the outstanding amount at the end of the second year.[1 mark]

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