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VCE Stuff => VCE Mathematics => VCE Mathematics/Science/Technology => VCE Subjects + Help => VCE General & Further Mathematics => Topic started by: hifer on November 02, 2007, 07:07:59 pm

Title: Re: Credit cards
Post by: hifer on November 02, 2007, 07:07:59 pm
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?
Title: Re: Credit cards
Post by: Odette on November 02, 2007, 07:20:19 pm
Quote from: "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?


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 ...
Title: Re: Credit cards
Post by: Timtasticle on November 02, 2007, 07:21:41 pm
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.
Title: Re: Credit cards
Post by: hifer on November 02, 2007, 07:26:15 pm
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 ><

Quote
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
Title: Re: Credit cards
Post by: Odette on November 02, 2007, 07:27:34 pm
Quote from: "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 ><

Quote
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
Title: Re: Credit cards
Post by: joechan521 on November 02, 2007, 08:30:11 pm
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
Title: Re: Credit cards
Post by: Odette on November 02, 2007, 08:31:37 pm
Quote from: "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


It's hard? OMG WHAT? lol
Title: Re: Credit cards
Post by: millstone on November 03, 2007, 03:40:14 pm
the 55 day thing is in the maths quest text book but as far as i know it's not covered in the exam
Title: Re: Credit cards
Post by: maxleng on November 03, 2007, 03:48:55 pm
are u guys talking about min daily balance? and u get a bank statement?
Title: Re: Credit cards
Post by: Odette on November 03, 2007, 04:00:31 pm
Quote from: "maxleng"
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