Planning Personal Finance - consumer finance 03

Work out how much you will pay back in total in terms of capital and interest if you borrow £500 for one year. The rate of interest you must pay on this loan is 11.9% per year.

(a)  

Work out how much you will pay back in total in terms of capital and interest if You borrow £500 for three years. The rate of interest you must pay on this loan is 49.9% per year.

(a)  

Work out how much you will pay back in total in terms of capital and interest if You borrow £1,000 for five years. The rate of interest you must pay on this loan is 49.9% per year.

(a)  

Work out how much you will pay back in total in terms of capital and interest if You borrow £1,000 for five years. The rate of interest you must pay on this loan is 1,299% per year

(a)  

Calculate the Annual Percentage Rate using the simple formula for a Loan of £5,000 over 5 years repayable monthly at a flat rate of interest of 8.9% per year

(a)  

Calculate the Annual Percentage Rate using the simple formula for a Loan of £2,500 over 2 years repayable monthly at a flat rate of interest of 5.9% per year

(a)  

Calculate the APR when there are fixed charges using the omplex formula for a Loan of £5,000 over 5 years repayable monthly at a flat rate of interest of 8.9% per year with an additional arrangement fee of £295

(a)  

Calculate the APR when there are fixed charges using the omplex formula for a Loan of £2,500 over 2 years repayable monthly at a flat rate of interest of 5.9% per year with an initial fee of £195 and a final administration charge of £395

(a)