Mathematics SBA

Mathematics SBA
Topic: A comparative analysis of the interest rates charged by commercial banks on loans in Berbice,
Guyana
Objectives:
1. To identify the types of interest charged by the commercial banks in Berbice Guyana
2. To compare the interest rates charged on loans by commercial banks Berbice, Guyana.
3. To determine which commercial bank offers the lowest loan interest rates.
4. To identify the factors that influence the interest rates charged by commercial banks in Berbice,
Guyana.
5. To identify whether or not the interest rates vary based on the types of loans offer by commercial
banks in Berbice Guyana
Introduction
Some CSEC researchers living in Berbice, Guyana, have noticed that many people in our
community discuss bank loans and how different banks charge varying interest rates. This
sparked curiosity among the young minds about how these rates affect people's choices and their
ability to repay loans. Through this Mathematics SBA, they will compare the interest rates that
commercial banks in Berbice charge on loans. They want to understand if the rates influence
which bank people choose and how different calculation methods change the total amount
someone has to repay
By conducting research to gather information they hope to see if there are any patterns in how
banks have been setting their lending rates. This investigation will help them apply the
mathematical concepts they've learned about interest calculations in real-world situations. It will
also help the researchers to understand why some people prefer certain banks over others in the
region. As researchers who will soon be adults and might need to take loans in the future, they
believe this knowledge will be very useful in their lives
Methods of collecting data- how you gather data
The researchers carried out a survey by interviewing bank managers from several commercial
banks in Berbice, Guyana. They visited the banks on specific dates to gather information about
loan interest rates. Along with conducting interviews, they used data collection sheets to record
details about the various methods of calculating interest, such as simple interest, compound
interest, the reducing balance method, and the straight-line method.
During these interviews, the researchers asked bank managers questions about their interest rates,
the methods they use for calculating interest, and how these methods affect the total repayment
amount for customers. Essentially, it was a one-on-one conversation between the researchers and
the bank representatives aimed at collecting accurate information for the students' Mathematics
SBA project.
By gathering this information, the researchers zhoped to understand better how interest
calculation methods vary across different banks and what factors influence the rates. As CSEC
students, they believed this method would give them reliable data to analyze and compare the
lending practices of the banks in the region.
Questionnaire
1. What is your age?
 18 – 25
 26 – 35
 36 – 45
 46 and above
2. What is your gender?
 Male
 Female
 Other
3. What is your current employment position?
 Supervisor
 Clerk
 Other (Please Specify)
………………………………………………………………………………………………
4. Approximately, how many loans have been issued by this branch in the last six months?
…………………………………………………………………………………………………
5. What type of loans are most commonly issued at this bank?
 Personal Loan
 Mortgage
 Business Loan
………………………………………………………………………………………………
6. What is the most common interest rate range applied to loans issued at this bank?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..
7. Does your bank offer fixed or variable interest rates on loans?
 Fixed
 Variable
 Both
8. Which method does your bank use to calculate loan interest?
 Simple Interest
 Compound Interest
 Reducing Balance
 Straight-Line Method
………………………………………………………………………………………………
9. Are the interest rates applied generally based on loan type?
 Yes
 No
10. Have clients frequently requested alternative terms due to interest rate concerns?
 Yes
 No
11. Have loan interest rates in Berbice have increased or decreased over the past five (5) years?
 Increased
 Decreased
 Stayed the Same
 Not Sure
12. How often do clients seek to understand the breakdown of interest rate calculations?
 Very Often
 Often
 Sometimes
 Rarely
 Never
13. How would you rate the level of satisfaction among clients regarding the interest rates
provided by your branch?
 Very Satisfied
 Satisfied
 Neutral
 Dissatisfied
 Very Dissatisfied
14. Based on your experience, how do interest rates impact clients’ decisions to take loans at this
bank?
 Highly Impactful
 Moderately Impactful
 Slightly Impactful
 Not Impactful
15. How would you describe the transparency of your branch in communicating interest rate
information to clients?
 Very Transparent
 Somewhat Transparent
 Neutral
 Not Transparent
16. What factors do you believe most influence the setting of loan interest rates at this bank?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..
17. What complaints do clients most commonly provide regarding loan interest rates?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..
18. What factor could improve clients’ understanding of the interest rates provided by the bank?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..
19. How many loan applications are typically processed monthly at this bank?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..
20. What recommendations would you make to improve transparency and communication
regarding interest rates at your bank?
…………………………………………………………………………………………………..
…………………………………………………………………………………………………..

Mathematics SBA - Questionnaire (AutoRecovered)

Uploaded by

Copyright:

Available Formats

Mathematics SBA - Questionnaire (AutoRecovered)

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Mathematics SBA - Questionnaire (AutoRecovered)

Uploaded by

Copyright:

Available Formats

2. What is your gender?

3. What is your current employment position?

5. What type of loans are most commonly issued at this bank?

7. Does your bank offer fixed or variable interest rates on loans?

8. Which method does your bank use to calculate loan interest?

9. Are the interest rates applied generally based on loan type?

You might also like