Gen+FM4+Standards

Back to: General Mathematics - HSC

[[image:Icon-FM.png align="left"]]FM4 Credit and Borrowing
Next: FM5
 * Prep || Review simple and compount interest concepts. ||  ||
 * 1 || Can explain the connection between interest earned on investments and interest paid on loans. ||  ||
 * 2 || Can calculate repayment schedule for a loan amount and a simple interest rate. || 1A ||
 * 3 || Can calculate the simple interest charged for given a loan amount and the repayment schedule. || 1A ||
 * 4 || Can explain the concept of reducible balance loan and the connection to compound interest. || 1B ||
 * 5 || Can calculate remaining balances on a home loan. || 1B ||
 * 6 || Can explain the concept of an Effective Interest Rate and use it to compare the cost of different loans. || 1C ||
 * 7 || Can explain different credit card fee options, including daily rates and interest free periods ("up to" 55 days free). || 1D ||
 * 8 || Can calculate card fees using a daily rate on a simple schedule. || 1D ||
 * 9 || Can discuss benefits and disadvantages of using credit cards in different ways. || 1D ||
 * 10 || Can use a table to calculate the monthly repayment on a reducible balance loan. || 1E ||
 * 11 || Can explain why making higher repayments on a reducible balance loan can dramatically reduce the cost of the loan. || 1E ||