Geometric Series - Clearing a Mortgage Debt

The couple in this example would like to buy a house but need a mortgage. This film uses geometric series to calculate their monthly payments over 25 years. (Duration 8 minutes 24 seconds). Part of a series of films from the METAL (Mathematics for Economics: enhancing Teaching and Learning) project that demonstrate how the mathematics of finance can provide an insight into a range of personal and business finance issues. They are fundamental building blocks for a course of mathematics for economics. These video clips and animations can be viewed in isolation, or via the learning pathway links to related materials in a Question Bank.