Financial math (1 Viewer)

[moderntortoisecat]

Hi all, I was wondering for financial qs how do we know when to take out repayments first then calculate interest on the account? For this q, we find interest first then withdraw, do we always do this unless specified? thank u!

 

[5uckerberg]

when to take out repayments first then calculate interest on the account?

The way I see it is as follows. If you are withdrawing then work out repayments and then take account of interest. If taking on a loan then work out the interest first. No point working out the repayments for a loan if you don't know the interest rate.