Financial Calculations

1. At the end of the period, interest is added on the new amount which includes all previous interest recieved (8, 8)
5. Interest = Total Payment - Original (8)
7. 20% Basic rate on the first £32245 of taxable income (5, 4)
9. Selling Price - Cost Price (5, 6)
10. Sale Price - Cost price / Cost price x 100 (10, 6)

2. http://getrevising.co.uk/resources/national_insurance (8, 9)
3. The original loan plus the interest paid (5, 6, 7)
4. The greater of these options: 3.25 x higher annual income + 1 x lower annual income OR 2.5 x combined annual income (3, 6, 8)
6. The Multiplier is the amount added to find the answer. Example: £80 is 100% so what would 120% be? 80 x 120/100 = £96 = 80 x 1.20 (11)
8. 40% Higher rate tax on taxable income between £32245 and £150,000 (6, 4)

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