Business Maths

[lem]

Does anyone know whether credit cards is on the study design ? Or can link me to the further vce study design i cant find it

[BubbleWrapMan]

http://www.vcaa.vic.edu.au/Documents/vce/mathematics/mathsstd.pdf

[StumbleBum]

So basically no, they are not in the study design and cannot be asked in the exam.

[lem]

Okay thank you so much guys

[Stick]

<_< Ah, credit cards are definitely in 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;

They haven't been on before, so they would definitely be worth learning.

[StumbleBum]

<_< Ah, credit cards are definitely in the study design:

Well this is news, could have sworn in searched through it and didn't see anything. Must have missed it :|

[Stick]

Yep, and I'm expecting a lot of students have skipped it as well. Here's a nice little way to get a one-up on everyone else. ^_^

[StumbleBum]

Yep, and I'm expecting a lot of students have skipped it as well. Here's a nice little way to get a one-up on everyone else. ^_^

Well my textbook (essentials) was a new edition for this year and it had two questions relating to credit cards throughout that entire Business module; without any previous examples. But then again the questions they ask are basically the same principle as that of loans, so its really just expected or prior knowledge but related to a slightly different situation.

[Stick]

Ah, I have an older textbook (Maths Quest 12) and there's an entire exercise dedicated to them.

[plato]

Yep, and I'm expecting a lot of students have skipped it as well. Here's a nice little way to get a one-up on everyone else. ^_^

Well my textbook (essentials) was a new edition for this year and it had two questions relating to credit cards throughout that entire Business module; without any previous examples. But then again the questions they ask are basically the same principle as that of loans, so its really just expected or prior knowledge but related to a slightly different situation.

I agree. It is the principle behind the loan/repayment/interest calculation arrangements that should be understood rather than the intricacies of credit cards.