Advantages and Disadvantages of interest-only repayments?

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kleopatra

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Hello everyone,

I'm new here,

Im having problems with a group task of mine and online classes are difficult.

On the group task I have a question that says

State one advantage and one disadvantage of taking a loan from Cheap Bank, and explain your answers.

The cheap bank:
Interest rate per annum: 5%, compounding fortnightly
ADDITIONAL INFORMATION: Interest-only repayments

If anyone could help that would be great!
 
kleopatra said:
Hello everyone,

I'm new here,

Im having problems with a group task of mine and online classes are difficult.

On the group task I have a question that says

State one advantage and one disadvantage of taking a loan from Cheap Bank, and explain your answers.

The cheap bank:
Interest rate per annum: 5%, compounding fortnightly
ADDITIONAL INFORMATION: Interest-only repayments

If anyone could help that would be great!
Click to expand...
What are the other conditions - like frequency of payment (due every fortnight or monthly or bi-monthly or something else)?

State one advantage and one disadvantage of taking a loan from Cheap Bank.....

Compared to what?

Please follow the rules of posting in this forum, as enunciated at:

https://www.freemathhelp.com/forum/threads/read-before-posting.109846/#post-486520

Please share your work/thoughts about this assignment.
 
Subhotosh Khan said:
What are the other conditions - like frequency of payment (due every fortnight or monthly or bi-monthly or something else)?

State one advantage and one disadvantage of taking a loan from Cheap Bank.....

Compared to what?

Please follow the rules of posting in this forum, as enunciated at:

https://www.freemathhelp.com/forum/threads/read-before-posting.109846/#post-486520

Please share your work/thoughts about this assignment.
Click to expand...
My Apologies,

Please find attached the photos of the work ive done so far, you can zoom to see them clearer. If you guys need explanation of my work done so far please let me know. I am stuck in part F of this problem
View attachment 18458

View attachment 18459
 
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