Caribbean Secondary Examination Certificate

Mathematics School-Based Assessment

Topic: Thinking of building a house- Which bank should
you obtain a loan from?

Name: Ariana Adram

Year of Submission:
Centre Code: 090165
School’s Name: Fraser’s Educational Institute
Teacher: Mr. Marlon Fraser
Proficiency: General
Territory: The Cooperative Republic of Guyana
Candidate Number:
Date of Submission:
 Table of Contents
Page
Project Title 3
Introduction 4
Method of Data Collection 5
Presentation of Data 6
Analysis of Data
Discussion of Findings
Conclusion
 Project Title
Title: Thinking of building a house- Which bank should you obtain a loan
from?
 Introduction
When building a house, finance must be obtained and one way to do so is to
obtain a loan which is a sum of money that is borrowed from a financial
institution and repaid with interest after a certain time period. In this
school-based assessment, an investigation will be carried out at four
institutions in Region 5 and Region 6 which are The New Building Society
(NBS), Republic Bank Ltd, Demerara Bank and Citizen’s Bank Incorporated.
In the investigation various mathematical concepts will be used to determine
the most suitable bank to obtain the loan and the main objectives are:
1. To allocate the interest rates offered
2. To identify the requirements needed when obtaining a loan
3. To find out the time for repaying a loan
4. To determine the time taken for approval
5. To investigate the equity that has to be made
6. To make recommendations to prospective loan applicants for building
a house
 Method of Data Collection
In this research, a correspondence was sent to each institution to ask for
permission to conduct an interview regarding the obtaining of loans. Prior to
the interview, a total of 12 questionnaires were distributed to various loan
customers of each bank to investigate the customer relations. The interview
was then carried out at the financial institutions and it consisted of 10
questions that were asked by an individual from the group to the loan
officers of each institution respectively.

A copy of the letter is on the following page:

 Lot 15 Catherina’s Lust
West Coast Berbice
Mahaica Berbice Guyana

17th September 2022

«AddressBlock»
Guyana

Dear Sir/Madam,
I, Ariana Adram, a student of the Fraser’s Educational Institute and
Group Leader of a Mathematics School-Based Assessment Group is kindly
asking for your permission to conduct an interview at your institution for
the main purpose of our school-based assessment (SBA). Our project title is
“Thinking about building a house-Which bank should you obtain a loan
from?” and our main objectives are:
1. Determining the interest rates offered
2. Finding out the requirements needed when obtaining a loan
3. Finding out the time for repaying a loan
4. Finding out the time taken for approval
5. Finding out the down payments that needs to be made
We are looking forward for your kind cooperation in providing a date and
time for the interview to take place and also providing the necessary
information for this SBA to be a success. Thank you.
Yours sincerely
……………………
Ariana Adram
Group Leader
 Data Collection Method
 Interview Questions:

1. What are the requirements for obtaining a building loan from your
institution?
2. What are the required fees to be paid by the loan applicant?
3. How much equity is required?
4. What is the time for approval of the loan?
5. What is the maximum time given to repay a loan?
6. Is it possible to repay a loan before the term is up?
7. Are there any penalties for late payments?
8. Are credit checks being done on the loan applicant?
9. What are the procedures when cancelling a home loan?
10. What is are your rates of interest on home loans?
11. What method is used to calculate the interest on home loans?

Interview Schedule
Date Activity Comments
Interview at New
Building Society
Interview at Republic
Bank Limited
Interview at Demerara
Bank
Interview at Citizen’s
Bank
  Questionnaire:
A blank copy of the questionnaire is shown below:

To answer a question, simply place an X in the box like this: (☒)

1. Select your employment status:
☐Employed
☐Unemployed
☐Self-employed
2. Why do you prefer this bank?
☐Low interest rates
☐Quick Approval
☐Greater Flexibility
☐Easy to apply
☐Good relations with the bank
☐Other
3. Do you own a home?
☐Yes ☐No
4. Have you ever taken a home loan from this bank?
☐Yes ☐No
5. If yes, which things attract you the most when taking a home loan?
☐Interest Rates
☐Service Provided
☐Repayment period
☐Others
6. What do you feel about the services provided by this bank?
☐Average
☐Satisfactory
☐Good
☐Unsatisfactory
7. In your opinion, do you think this bank offers competitive service
charges?
☐Yes ☐No ☐Maybe
Distribution Schedule
Presentation of Data