# help with time and money questions

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#1
Is there a short and easy explanation for the following questions

interest on a load of £2000 is charged at the rate of 21% per annum. interest is calculated on the outstanding loan at the start of each year

a : how much is owed immediately the loan is taken out ?

this is easy you just multiply 2000 grand with 0.21 and add it on

b: repayements are £600 per year

how much is owed at the start of the third year of the loan?
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#2
in 1982 it was estimated that there were only 20 000 minke whales left in the world. the hunting of minke whales was banned in 1982. after 1982 the population increased by 45 % each year.

a : how many minke whales were there in 1983 (1 year after the ban)?

20 000 times 0.45 = 29000

b: how many minke whales were there in 1985 ( 3 years after the ban)?

29000 times 0.45 = 42050 * 0.45 =60,972.5

61 000

i am having trouble with the 3rd question

c : it was agree that when the minke whale population reached 250 000 some hunting of the minke whales would be allowed again
in what year did this happen?
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16 years ago
#3
(Original post by ASIM)
Is there a short and easy explanation for the following questions

interest on a load of £2000 is charged at the rate of 21% per annum. interest is calculated on the outstanding loan at the start of each year

a : how much is owed immediately the loan is taken out ?

this is easy you just multiply 2000 grand with 0.21 and add it on

b: repayements are £600 per year

how much is owed at the start of the third year of the loan?
you do the first calculation (2000*1.21) then you subtract 600, then you times that answer by 1.21 and subtract 600 you then times that by 1.21 and that should be the amount owed at the start of the third year
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