Loans, mortgages, credit cards, debt consolidation and comparing repayment options

What this note covers

1. What a loan actually costs
2. Flat-rate (simple interest) loans
3. Reducing-balance loans and the repayment schedule
4. Mortgages: total repaid, total interest and the effect of term
5. Credit cards, interest-free days and minimum repayments
6. Debt consolidation and comparing repayment options honestly
7. How borrowing is examined, and what a top-band answer looks like

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