Further EXAM 2 Review

[EdwinJS]

I'm not in touch with enough VCAA members to provide suggested solutions similarly to most of us however I think we can discuss some of our results for some of the questions we remember?


What did everyone get for the last question; that is, the new equation 42,000=m400+n100, what were the new prices you got? Some people I know have got $84 for both, some got $80 for X and $100 for Y. (Btw the equation must equal 42,000). If I missed any important information, quote me x

[EdwinJS]

I got 84 for m and n, with the assumption that if the (400,100) point was a maximum so was that entire line section since it's not a corner point.

Yeah that makes sense; (84*400)+(84*100)= $42,000, but (80*400)+(100*100) = $42.000 too.... I swear if this is another stupid question by VCAA

Were there any other requriements to single out one answer?

[haxor4chan]

wth was a lump sum 

[blossum]

What the heck was this question
LOL
Is this in core?
Did I miss it?
Oh my god

I know I missed the intercept question for core regarding actual temperature rip

wth was a lump sum 

The last question in financial was similar to one I answered in the further question thread heuheueh
It was something where [generic white boy name] wanted to discontinue paying back a $70,000 loan after three years, pay off a lump sum (a single amount needed to fulfil his wildest desires of being able to pay it off in a shorter amount of time) then pay it over a further three years.
So three years of monthly payments of $800 at 6.9% p.a., -> EXTRA MONEY <-, followed by exactly three years of monthly payments of $800 at 6.9% p.a.

I checked my calculator history and got $28204.00 (had to round to nearest dollar which I went back and checked off in the last 2 minutes rip me)
What I did was first find the amount owing (FV) after the first 36 payments ($54151.60),
N = 36, I = 6.9, PV =70000, Pmt = -800, FV = ? Ppy = 12
FV= -54151.60

Then calculated how much he would need to have owing to pay it off over the next three years.
N = 36, I = 6.9, PV =?, Pmt = -800, FV = 0 Ppy = 12
Pv= 25947.57
Then I subtracted 25947.57 from 54151.60 to get 28204.00, the lump sum

[apan]

I got $84 for both! The reason being (400,100) was not a corner point - hence it had to lie on the x+y line (therefore gradient of the profit function had to be the same as the line of x+y -- meaning that the selling price had to be the same!) Then I solved 500n = 42000.
What did people get for the lump sum? I got $28204 (from my calculator). I used financial solver to figure out the value of the loan after 36 payments (like $54000 around that) and then I set FV to zero to figure out what the PV would have to be for the loan to be fully repaid after 36 payments (3 yrs) - then i subtracted the $54145 (somthing like that) From the PV i calculated!

[apan]

What the heck was this question
LOL
Is this in core?
Did I miss it?
Oh my god

I know I missed the intercept question for core regarding actual temperature rip

The last question in financial was similar to one I answered in the further question thread heuheueh
It was something where [generic white boy name] wanted to discontinue paying back a $70,000 loan after three years, pay off a lump sum (a single amount needed to fulfil his wildest desires of being able to pay it off in a shorter amount of time) then pay it over a further three years.
So three years of monthly payments of $800 at 6.9% p.a., -> EXTRA MONEY <-, followed by exactly three years of monthly payments of $800 at 6.9% p.a.

I checked my calculator history and got $28204.00 (had to round to nearest dollar which I went back and checked off in the last 2 minutes rip me)
What I did was first find the amount owing (FV) after the first 36 payments ($54151.60),
N = 36, I = 6.9, PV =70000, Pmt = -800, FV = ? Ppy = 12
FV= -54151.60

Then calculated how much he would need to have owing to pay it off over the next three years.
N = 36, I = 6.9, PV =?, Pmt = -800, FV = 0 Ppy = 12
Pv= 25947.57
Then I subtracted 25947.57 from 54151.60 to get 28204.00, the lump sum

I got the same as you

[haxor4chan]

  ahhh right ...would they still give methods mark for just finding the PV after 3 years? for the lump sum question

[EdwinJS]

What the heck was this question
LOL
Is this in core?
Did I miss it?
Oh my god

I know I missed the intercept question for core regarding actual temperature rip

The last question in financial was similar to one I answered in the further question thread heuheueh
It was something where [generic white boy name] wanted to discontinue paying back a $70,000 loan after three years, pay off a lump sum (a single amount needed to fulfil his wildest desires of being able to pay it off in a shorter amount of time) then pay it over a further three years.
So three years of monthly payments of $800 at 6.9% p.a., -> EXTRA MONEY <-, followed by exactly three years of monthly payments of $800 at 6.9% p.a.

I checked my calculator history and got $28204.00 (had to round to nearest dollar which I went back and checked off in the last 2 minutes rip me)
What I did was first find the amount owing (FV) after the first 36 payments ($54151.60),
N = 36, I = 6.9, PV =70000, Pmt = -800, FV = ? Ppy = 12
FV= -54151.60

Then calculated how much he would need to have owing to pay it off over the next three years.
N = 36, I = 6.9, PV =?, Pmt = -800, FV = 0 Ppy = 12
Pv= 25947.57
Then I subtracted 25947.57 from 54151.60 to get 28204.00, the lump sum

Yup, I got $28204 as well and sorry forgot to mention that first question was the last question in the graphs and relations module.

[blossum]

Yay apan! c:

ahhh right ...would they still give methods mark for just finding the PV after 3 years? for the lump sum question

It was two marks right? Maybe :c It's always worth putting down any steps you do, though there were so many one mark questions this year ;_;

Depreciation questions
Caravan value of $38,000, has a value of $16,000 after 8 years. Show that each year it depreciates by $2570
Vn= V0 - d x n
16000 = 38000 - 8n
n = 2750

Unit cost depreciation
It travels 5000km each year for eight years, how much does it depreciate per km
16000 = 38000 - 5000 x 8 x n
n= 0.55
55c per km

[jazzaa36]

FK WE WERE MEANT TO ROUND TO THE NEAREST DOLLAR ?!?

[blossum]

FK WE WERE MEANT TO ROUND TO THE NEAREST DOLLAR ?!?

LOL awww
I like sped through the pages looking for "round to whole number/two sig figs/decimals" totally forgetting about them and saved myself at least 3 marks x]

[EdwinJS]

Yay apan! c:
It was two marks right? Maybe :c It's always worth putting down any steps you do, though there were so many one mark questions this year ;_;

Depreciation questions
Caravan value of $38,000, has a value of $16,000 after 8 years. Show that each year it depreciates by $2570
Vn= V0 - d x n
16000 = 38000 - 8n
n = 2750

Unit cost depreciation
It travels 5000km each year for eight years, how much does it depreciate per km
16000 = 38000 - 5000 x 8 x n
n= 0.55
55c per km

Yes, got the same 

[yakattack]

For the lump sum question, do you get both marks if you got the right answer without the method? Because I got the answer then saw it was a 2 mark question, and then I couldn't remember what I'd done apart from $54151.60 - $25947.57 and so that's all the working I had...

[haxor4chan]

Can you still get 45+ if you lost 3 marks over all in both exams and are rank 2?

[apan]

Oh crap 😭😭 I screwed up the unit cost depreciation question! Somehow managed to get  $4.50 per km? But sounds way off now! Argghg