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Reducing balance loans, annuities and investments
General Maths Units 3 and 4 2023+
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Lesson notes
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VCE Maths exam question content used by permission, ©VCAA. The VCAA is not affiliated with, and does not endorse, this video resource. VCE® is a registered trademark of the VCAA. Past VCE exams and related content can be accessed at www.vcaa.vic.edu.au
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Introduction
Description
This video is the second in the series for the Year 12 General Maths (Units 3 and 4 course) relating to financial mathematics. Another really long title means that I am going to look at annuities and reducing balance loans. For the algorithm the title is: Using recurrence relations to analyse and model reducing balance loans and annuities. I look at what an annuity is as well as a reducing balance loan. Understand the context of the question goes a long way to understanding how to solve the problem. I recap the formula (once again) and then use a lot of worked examples and five VCAA questions to show how the theory is translated into examinable questions. All theory is explained in an easy to understand way.
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Using recurrence relations to analyse and model re
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