Banking and Finance

Description

Working with financial information and percentages
Stanley Cox
Quiz by Stanley Cox, updated more than 1 year ago
Stanley Cox
Created by Stanley Cox over 8 years ago
129
1

Resource summary

Question 1

Question
A bank customer earns £23,500 per year, and has £10,000 saved up for a deposit on new flat Sean has seen a flat for sale for £55,000. The customer received a letter from his bank about taking out a mortgage. Can the customer buy the flat under the banks conditions?
Answer
  • Yes , the customer can buy the flat
  • No, the customer will not be able to purchase the flat

Question 2

Question
A bank customer earns £23,500 per year, and has £10,000 saved up for a deposit on new flat Sean has seen a flat for sale for £55,000. The customer received a letter from his bank about taking out a mortgage. The customer decides to talk to another bank who will lend 2.5 times the customer salary, providing the customer pays 15% of the value of the property as a deposit. Will the customer be able to afford the flat?
Answer
  • Yes, the customer will be able to afford the mortgage.
  • No, the customer can't afford the mortgage.

Question 3

Question
An employee earns £16,000 a year, how much tax will the employee have to pay?
Answer
  • 8000
  • 1705
  • 3410

Question 4

Question
Just before the employee starts work, the rules for paying change income tax change (see tutor) How much less income tax will the employee have to pay each year?
Answer
  • 50.00
  • 100.00
  • 126.00
  • 150.00

Question 5

Question
A customer takes out a loan to buy a car for £6750. The customer wants to pay it back in full, including the interest, in 12 equal monthly instalments. How much will the customer have to pay each month, to the nearest penny?
Answer
  • £646.87
  • £646.88
  • £650.00
Show full summary Hide full summary

Similar

Financial instruments
meyer cohn
Bank Guarantee
Rohit Beerapalli
Money and Banking
Bird
banking resources
dahakesv
AAT 2 Banking Questions Quiz
Louise Johnson
Fractions and percentages
Bob Read
CUMULATIVE FREQUENCY DIAGRAMS
Elliot O'Leary
GCSE Maths: Understanding Pythagoras' Theorem
Micheal Heffernan
Maths GCSE - What to revise!
livvy_hurrell
GCSE Maths Symbols, Equations & Formulae
Andrea Leyden
FREQUENCY TABLES: MODE, MEDIAN AND MEAN
Elliot O'Leary