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jakesilove:

--- Quote from: Rikahs on October 17, 2016, 02:21:46 pm ---Also a little of topic but you know how there are some finance questions saying "how many months will it take for Billy to pay of his debt" I realize what you have to do in the sense that you are trying to find "n" however most of the time after doing the working out, you get a non integer value e.g n= 205.348837.

So the question here is do I take the value of n as "205" or "206" ? I've seen one answer in the hsc were they just rounded to nearest whole number so in this case would be 205 however if billy does 205 payments then technically he will still have some of the loan still left over to pay. So yeah that's where my confusion arises from.

--- End quote ---

The marker will give you the mark either way! Make sure to write down the non-integer term, and then decide what makes the most sense. If it is 205.9999 months, you can assume the answer is 206 months. If you get 205.5, you could write "within the 205th month". It seriously won't matter, as long as you get the 'real' answer and write that down first!

jamonwindeyer:

--- Quote from: Rikahs on October 17, 2016, 02:21:46 pm ---Also a little of topic but you know how there are some finance questions saying "how many months will it take for Billy to pay of his debt" I realize what you have to do in the sense that you are trying to find "n" however most of the time after doing the working out, you get a non integer value e.g n= 205.348837.

So the question here is do I take the value of n as "205" or "206" ? I've seen one answer in the hsc were they just rounded to nearest whole number so in this case would be 205 however if billy does 205 payments then technically he will still have some of the loan still left over to pay. So yeah that's where my confusion arises from.

--- End quote ---

In extension of Jake's answer, do remember that it does depend on the question a tad. Say you were finding after how many months the account reaches a million dollars (or something), and the answer is 205.4; rounding down here would be a tad incorrect. The reason is, after 205 full months, it isn't quite at a million. You would be more correct to round up and say, after 206 full months, the account reaches the required value.

But as Jake said, they'd likely pay you either way :)

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