Today we started out by doing a homework check. Out of the 39 marks available we only got 9 all together so Mr. Max decided that he wouldn’t put it on our marks. After that he talked about how after growing older we were taught to be afraid to make mistakes.
After our discussions we went over the question we were supposed to do.

The assignment that we were given today is due on tuesday at the end of the class.

Mr. Max asked me to include this definition-
Amortization- The gradual reduction of a debt by periodic payments over the term of the loan.

Buy A Quad!

Your instruction is to come up with a solution for this problem...Use the TVM Solver, for the beginning of class tomorrow:

ex. Chuck needs a new quad. He secures financing at the local Credit Union for 7.5%. He will borrow the money for 24 months, and interest will be compounded monthly. If the quad, before taxes, retails for $11 398. PST and GST need to applied.


a) Calculate his monthly payment


b) Calculate his total repaid over the 24 months.


c) If he was able to put a down payment on the quad of $1000, how would this affect his monthly payment specifically?

North Side Team

TVM Solver...What is it? How does it work? Your submissions MUST be unique, and useful for the greater student body...