Annual percentage rate (APR) Archives - The Nature of Mathematics

Individual Research Projects Section 11.2

September 29, 2015July 16, 2015 by elaine

Project 11.5

Karen says that she has heard something about APR rates but doesn’t really know what the term means. Wayne says he thinks it has something to do with the prime rate, but he isn’t sure what. Write a … See the whole entry

Video Links 11-2

August 11, 2015July 16, 2015 by elaine

Videos:
Annual Percentage Rate – legal definition (time: 0:59)
https://www.youtube.com/watch?v=Y2iYzJ6Jl0k

Installment Loans and Credit Scores (time: 2:36)
… See the whole entry

Section 11.2: Installment Buying

September 25, 2015July 16, 2015 by elaine

11.2 Outline

Terminology
1. types of installments
  1. closed-end loan
  2. open- end loan
2. ways of calculating interest
  1. add-on interest
  2. amortization
. Add-on interest
1. installment loan formulas
2. buying a car
Annual percentage rate (APR)
1. APR formula
2. compare 0% financing with APR
. Open-end

… See the whole entry