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This quiz allows you to test your ability to calculate interest.
How much would you pay in interest per annum if you make no repayments on a principal sum of £50,000 and the rate of interest is 5%?
a.
£5000
b.
£2500
c.
£17,500
d.
£3350
The correct answer is b.
How much would you pay in interest per annum if you make no repayments on a principal sum of £50,000 and the rate of interest is 6.7%?
£3750
£46,650
£44,890
The correct answer is d.