Analysing reducing-balance loans with recurrence relations
Chapter 3.3 - 3.4
Embedded Files
Learning Intention:
Learning Intention:
Model a reducing balance loan with a recurrence relation
Success Criteria:
Success Criteria:
relate reducing-balance loans to a recurrence relation
Construct an amortisation table
Prior Knowledge:
Recurrence relations
Recurrence relation for compound interest
Vn+1 = RVn for R > 1
Recurrence relation for simple interest Vn+1 = Vn + D
Key Vocabulary:
geometric growth and decay
reducing-balance loan
principal
balance
amortisation table
personal loan
mortgage
term
payment / repayment
New Knowledge
New Knowledge
Loans__amortisation_.pptxApplication Tasks
Application Tasks
power point questions....
Additional Resources
Additional Resources
Google Sites
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