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Revision Exercises Suggested SolutionsModule: Computer Literacy Advanced (HCLT108-1)
Week number (Date): 1, (2 March 2023)
Unit covered: Modules 1 and 2 ( Microsoft Excel 2016)
Question 1
1.1
You intend to take a loan to purchase your first property. You are still deciding the value of a property
you can purchase that suit your savings and monthly earnings. You have decided to use the loan
calculator from Excel. For a loan of $500 000; at an interest of 11% per annum, paid over 20 years,
calculate the monthly repayment, loan interest to be paid, and total loan payments.
1.2
You have fallen in love with a property on the market for $500 000. You have decided to use your
savings to pay $200 000 towards a property purchase then take a loan for $300 000. If given the loan
at 8% interest per annum for 30 years, calculate the repayment amount, the loan interest, and total
monthly payments.
1 HCLT108-1-Jan-June2023-T&L W1-Memo-IM-V.2-23022023
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