Re: Credit cards

[hifer]

Hi there, for ppl doing bus math, have u actually covered the section abt credit cards? I found all the rest pretty easy cept for this... the way that the 55 day interest-free cards work are kinda confusing.. where u have to back track the purchase date.

I haven't actually noticed any credit card questions on the exams before, do u think they'll be tested?

[Odette]

Hi there, for ppl doing bus math, have u actually covered the section abt credit cards? I found all the rest pretty easy cept for this... the way that the 55 day interest-free cards work are kinda confusing.. where u have to back track the purchase date.

I haven't actually noticed any credit card questions on the exams before, do u think they'll be tested?

What credit card thing??
We didn't cover it and I haven't seen it on exams that i've done... i've done 11 full exams ...

[Timtasticle]

Wtf; never heard of them.

Which textbook are these coming from? I'm pretty sure specific credit card qns is not on the course - but having that said, it is possible to have questions regarding credit cards (simple, compound and annuities) but that's all they could ask.

[hifer]

well, it's in the MathQuest textbook which we use in our school well it wasn't very well covered anyway, but it is specified on the study design ><

reducing balance loans as particular applications of annuities, with applications including housing
loans, time payment plans (hire purchase) and credit/store cards; consideration of the effects of
varying the repayment amount, the frequency of repayments, and the interest rate on the total
repayment time and total interest paid;

since it hasn't appear i hope it's not going to

[Odette]

well, it's in the MathQuest textbook which we use in our school well it wasn't very well covered anyway, but it is specified on the study design ><

reducing balance loans as particular applications of annuities, with applications including housing
loans, time payment plans (hire purchase) and credit/store cards; consideration of the effects of
varying the repayment amount, the frequency of repayments, and the interest rate on the total
repayment time and total interest paid;

since it hasn't appear i hope it's not going to

Hmm it's not even in my textbook  :shock:
But it doesn't seem to be too difficult though, I'm sure it's straight forward

[joechan521]

i've done credit cards!!!
its really hard, and especially when you need to calculate interest for each day...
so confusing.

thats why i gave up that module

[Odette]

i've done credit cards!!!
its really hard, and especially when you need to calculate interest for each day...
so confusing.

thats why i gave up that module

It's hard? OMG WHAT? lol

[millstone]

the 55 day thing is in the maths quest text book but as far as i know it's not covered in the exam

[maxleng]

are u guys talking about min daily balance? and u get a bank statement?

[Odette]

are u guys talking about min daily balance? and u get a bank statement?

No they means like credit cards and how they work with the interest free stuff etc