Hostname: page-component-78c5997874-8bhkd Total loading time: 0 Render date: 2024-11-14T07:34:22.018Z Has data issue: false hasContentIssue false
  • English
  • Français

Repaying a loan by instalments

Published online by Cambridge University Press:  22 September 2016

C. W. Puritz
C. W. Puritz*
Affiliation:
Royal Grammar School, High Wycombe, Bucks. HP13 6QT
Get access Rights & Permissions [Opens in a new window]

Extract

A good deal of interesting mathematics at various levels arises from the situation where a loan is repaid by regular equal instalments, with interest being charged on the balance outstanding at each stage. The loan may be a mortgage, in which case the instalments are reckoned as annual (even though they are actually paid monthly), or a hire purchase debt or a personal loan of some sort with interest reckoned monthly. The following topics are in roughly increasing order of difficulty.

Type
Research Article
Information
The Mathematical Gazette , Volume 61 , Issue 418 , December 1977 , pp. 253 - 261
Copyright
Copyright © Mathematical Association 1977

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

1. Consumer credit: report of the committee (chairman Lord Crowther). HMSO (1971).Google Scholar