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Based on the bank you have chosen in Task 2, calculate how much we need to pay back the bank per month for the S$15,000 loan.

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Based on the bank you have chosen in Task 2, calculate how much we need to pay back the bank per month for the S$15,000 loan.

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Show your workings below:
Step 1. Loan Repayment period is 3 years = XXX months
S$12x3=36

Step 2. Total amount of loan including interest = 15000+2117.50 =S$17117.50

Step 3. Monthly instalment amount =S$17117.50/36=S$475.50

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Which bank gives us a better deal? and by how much?

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Which bank gives us a better deal? and by how much?

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Bank XXX by $YYY
Bank BABA is better by
Difference = S$2250-S$2117.50=S132.50

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4.5% Compound Interest
Work out how much you need to repay at the end of 3 years.
Show your workings below:
Accumulated Amount = P(1 + r/100)n

=15000(1+4.5/100)3=17117.50
17117.5-15000=S$2117.50

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5% Simple Interest
Work out how much you need to repay at the end of 3 years.
Show your workings below:
Interest = prn

INTEREST = 15000X5X3/100=S$2250

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2. Your turn to calculate the prices of your Nasi Lemak dishes in foreign currency. Enter your calculation into the Google slides below.

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2. Your turn to calculate the prices of your Nasi Lemak dishes in foreign currency. Enter your calculation into the Google slides below.

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Your Turn
Show your currency conversion below. Click and work on the Google PowerPoint slide.

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1. Firstly, we need to calculate how much to sell our Nasi Lemak dishes overseas.
Let's look at an example below

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22000 DIVIDE BY 50 = S$440

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1. Your group will need to change 22,000 INR for the recce trip. How much will that be in Singapore dollars (S$)? Give your answers correct to 2 decimal places.