Reducing-balance loans and credit card calculations

What this note covers

1. What is a Reducing-Balance Loan?
2. Calculating Repayments Using the Annuity Formula
3. The Amortisation Table: Interpreting Spreadsheet and Table Outputs
4. Credit Card Interest: How It Is Calculated
5. The Effect of Extra Repayments
6. Reading and Interpreting Spreadsheet/Table Outputs in Exam Questions
7. Exam Strategy and Common Traps

7 sections · 12 key terms & formulas · 6 common mistakes