About this lesson
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.
Legal (VCAA)
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
Video details
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Title
Using recurrence relations to analyse and model reducing balance loans and annuities
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Section
Reducing balance loans, annuities and investments
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Course
General Maths Units 3 and 4
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