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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 =36 months

Step 2. Total amount of loan including interest =
15000+2250 =$17250
Step 3. Monthly instalment amount =
$17250/36 = $479.17

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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
15000 x 3 x 5 over 100 = $2250

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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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1. Your group will need to change 350,000 KRW for the recce trip. How much will that be in Singapore dollars (S$)? Give your answers correct to 2 decimal places.

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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

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350000/805 =$434.78

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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 Ali  by $14867.50

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meth