1. Warm up Notes Preliminary Activity Activity For Fun Comparing Loans

2. Back Review Questions Use the following formulae when needed Area of a parallelogram A = bh Area of a trapezium A = 1 / 2 h(a + b) Simpson's rule A = h / 3 (d f + 4d m + d l ) 1. Calculate the area of the parallelogram 2. Calculate the area of the field 3. Calculate the area of the pond. 518 cm 2 2 349 m2 1 980 m2 Measured in metres

3. Back When we look at the different types of loans offered by different lending institutions, is is often difficult to see which is the best loan for us. We need to consider fees, available term offered, repayment schedules and also interest rates.

4. Back We can compare the interest rate of different loans by using this formula to convert a simple interest loan to approximate the compound interest rate, this is called the effective interest rate.

5. Back 41.7% 56.3% 75.7% Questions 1. Use the table provided to complete the following three questions 2.

6. Back $1 104 $1 096.50 $211.70 50.9% $17.25 8.5% 3. 4. Answers are on the next page

7. Back Answers