This is my question on on my paper: I can do everything I just dont know what sort of basic loan calulations I need to do, is this:

Interest rate / number of payments x principal = interest?

The rest I have completed

For each of the following tasks you are to complete the following steps provided to demonstrate your ability to perform each of the following financial calculations:

1. Goods and services tax (GST)
2. Simple interest
3. Compound interest
4. Basic loan calculations

Instructions

For each financial calculation, complete the following steps to obtain the required data and resources:

1. Obtain the input data required, ensuring to verify that it is relevant for workplace calculations.

Provide copies of this data.

1. Determine and document the required outcomes of the calculations and confirm them from the task specifications
2. Identify and obtain the resources and equipment that are relevant to perform the required calculations effectively, including handheld calculators.

List the resources and equipment obtained.

1. Where necessary, develop simple spreadsheets to perform calculations that may be repeated.

Provide copies of these spreadsheets.

Perform the following steps to select the appropriate calculation methods, and to carry out the required financial calculations:

1. Select, and record, the suitable method for the required calculations
2. Accurately perform the financial calculations, using techniques suited to selected method, and the appropriate equipment and software.

Provide evidence of these calculations.

Complete the following steps to check your calculations and to record your outcomes:

1. Check your results to ensure that the calculations are accurate and that they meet the required outcomes, including recognising if they contain any routine computational errors, and correcting any identified.

Document any routine computational errors identified and corrected.

1. Accurately record the calculation results.

Provide a copy of these recorded results.

1. Safely store or electronically file the calculation worksheets for future use.

Provide a copy of these calculation worksheets.