To get a pre-tax yearly income I can calculate the weekly wage with an assumed number of working hours per week, I can then work out my yearly wage () by multiplying the weekly wage by the number of weeks in the year.

Special Rates §

I will include in the weekly wage the regular, re-occuring Benefits I accrue within each weekly period, this being the penalty benefits for working on Saturdays & Sundays.

Below is a table depicting my chosen Hourly worktime, alongside the Penalty Rates where applicable.

Plugging in my values gets me;

Thus my weekly income is **625 \times 52.14=32587.5Y=32587.5Y$ is Yearly Income.

Public Holidays - Archived

Public Holidays §

Now for public holidays, the public holiday rate is similar to the Penalty Payments calculated in the weekly payments, however, since they only occur sparcisely, and in no particular pattern, they must be added on after. According to this government website, there are 11 public holidays recognised per year in western Australia, each one consistently provides a 250% income boost. Personally, I wouldn’t like to work on New Years, Christmas, or Boxing day, since I’d rather be up with Family, thus I’ll count 8 Public Holidays as working days, on which I’ll work 8 hours, despite whether if it’s a Weekend or Weekday since University doesn’t run on Public Holidays. Of the first year, there is only one day that is a saturday, thus the rest are weekdays,

Wage Growth §

According to the [Australia Bureau of Statistics](https://www.abs.gov.au/media-centre/media-releases/wages-increase-08-cent-june-quarter#:~:text=The%20Wage%20Price%20Index%20(WPI,wages%20grew%200.8%20per%20cent.), Wage Growth is averaged at around 3.6%, if we assume that this is maintained throughout the next 5 years, we can construct a Explicit Geometric Sequence, where represents how many year’s it has been since we took on the loan. Full Values;

Warning

re-look at dates to make specific estimate

Archive §

Beyond Bank (Low Rate Loan) §

Fixed Compensation Rate: 8.27% Maximum Age: 8

Kia Cerato - =

Classpad - Working out Payments Classpad - Finding of Interest

2017 Mitsubishi Lancer - =

Classpad - Working out Payments Classpad - Finding of Interest

2015 Suzuki Swift GL - =

Classpad - Working out Payments Classpad - Finding of Interest

Beyond Bank (Special Offer) §

Fixed Compensation Rate: 6.36% Max Age: 2

Kia Cerato - =

Classpad - Working out Payments Classpad - Finding of Interest

2017 Mitsubishi Lancer - =

Classpad - Working out Payments Classpad - Finding of Interest

2015 Suzuki Swift GL- =

Classpad - Working out Payments Classpad - Finding of Interest

Heritage Bank §

Fixed Compensation Rate: 7.04% Max Age: 7

Kia Cerato - =

Classpad - Working out Payments Classpad - Finding of Interest

2017 Mitsubishi Lancer - =

Classpad - Working out Payments Classpad - Finding of Interest

2015 Suzuki Swift GL - =

Classpad - Working out Payments Classpad - Finding of Interest

Commbank §

Fixed Compensation Rate: 9.04% Maximum Age: 5

Kia Cerato - =

Classpad - Working out Payments Classpad - Finding of Interest

2017 Mitsubishi Lancer - =

Classpad - Working out Payments Classpad - Finding of Interest

2015 Suzuki Swift GL - =

Classpad - Working out Payments Classpad - Finding of Interest

Westpac §

Fixed Compensation Rate: 10.67% Maximum Age: 7

Kia Cerato - =

Classpad - Working out Payments Classpad - Finding of Interest

2017 Mitsubishi Lancer - =

Classpad - Working out Payments Classpad - Finding of Interest

2015 Suzuki Swift GL - =

Classpad - Working out Payments Classpad - Finding of Interest

Classpad Calculations

We first calculate the payments, as if this where a regular loan. Then find the of Interest payed that year, as well as the balance at that point.

We then take the and use it as the new value to calculate new Repayments And then use Amortisation;

Thus,