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VCE Stuff => VCE Mathematics => VCE Mathematics/Science/Technology => VCE Subjects + Help => VCE General & Further Mathematics => Topic started by: oneialex on November 04, 2012, 05:14:54 pm

Title: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: oneialex on November 04, 2012, 05:14:54 pm: This is probably going to be basic, but I'm constantly getting my calculations wrong on this question. Could anyone provide the appropriate calculations for solving the question? I must be looking at the method of calculating it wrong and providing the right method would be very reassuring. Thanks in advance. :)
Title: Re: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: StumbleBum on November 04, 2012, 05:20:27 pm: Do you want the calculator working or the annuities formulae working?..
Title: Re: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: oneialex on November 04, 2012, 05:22:52 pm: Quote from: StumbleBum on November 04, 2012, 05:20:27 pm
Do you want the calculator working or the annuities formulae working?..
Whichever is more appropriate.
Title: Re: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: StumbleBum on November 04, 2012, 05:41:43 pm: Hoping you have the ClassPad, this is how you would input the information:

$\begin{aligned}\ n &= 1 \\ I\% &= 7.2 \\ PV &= -5600 \\ PMT &= -200 \\ FV &= ? \rightarrow 5833.60 \\ P/Y &= 12 \\ C/Y &= 12 \end{aligned}$

so using the financial sover gives $\$5,8233.60$
Title: Re: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: oneialex on November 04, 2012, 05:44:24 pm: Quote from: StumbleBum on November 04, 2012, 05:41:43 pm
Hoping you have the ClassPad, this is how you would input the information:

$\begin{aligned}\ n &= 1 \\ I\% &= 7.2 \\ PV &= -5600 \\ PMT &= -200 \\ FV &= ? \rightarrow 5833.60 \\ P/Y &= 12 \\ C/Y &= 12 \end{aligned}$

so using the financial sover gives $\$5,8233.60$

By hand, using the annuities formula, which would be harder and pointless to do, you would do it like so:

$\begin{aligned}\ A &= PR^n - \frac{Q(R^n-1)}{R-1} , where R=1+\frac{r}{100}\end{aligned}$
I see where I've gone wrong already, just isn't my day with the TVM solver. Much appreciated :)
Title: Re: (Exam 2) VCAA 2011 Business-related Mathematics: Q2(a)
Post by: StumbleBum on November 04, 2012, 05:47:13 pm: Quote from: oneialex on November 04, 2012, 05:44:24 pm
I see where I've gone wrong already, just isn't my day with the TVM solver. Much appreciated :)
no worries, i'll stop writing the rest out then...