Exam 1 Business Answers

[hifer]

Mine..
1. A
2. C
3. C
4. D
5. E
6. D
7. E
8. D
9. A

[maxleng]

same    

[Odette]

All the same except for Qn 7... I got B hmm could be wrong lol

[maxleng]

for 7. i used [original price = new x (100/100-r) ]

and treated the inflation as a 'percentage increase' and worked backwards which gave me the answer of $39977.16

[Odette]

Oh i see what i did was....
Step 1-
42000 x 0.98 = 41160
Step 2-
41160 x 0.97 = 39925.2 (approx 39925)

[hifer]

for 7. i used [original price = new x (100/100-r) ]

and treated the inflation as a 'percentage increase' and worked backwards which gave me the answer of $39977.16

Yup, I got the same answer by Salary this yr/1.02/1.03

[maxleng]

for 7. i used [original price = new x (100/100-r) ]

and treated the inflation as a 'percentage increase' and worked backwards which gave me the answer of $39977.16

Yup, I got the same answer by Salary this yr/1.02/1.03

hi-five!

[gulamali]

yeoooww got them all right =]

always knew business was my strength.

[millstone]

i only got one wrong
which is a freaking miracle cos in every prac exam i got 4/9

[Timtasticle]

Yeessssss 100% for this too

[millstone]

can someone please explain how to do 8 and 9?
cos 8 i got wrong and 9 i don't remember how i did and now i can't work it out

[gulamali]

question 8, you had to minus 180 from the 720 that gives you 540 as your Principal, then use the Simple Interest formula  I = Prt/100 find out the interest, then add it to the Principal of $540 and divide it by 24.

Question 9, type it in TVM solver lol

N= 240
I = 7
Pv = 250000
FV= 0
PMT = ?
P/Y = 12
C/Y = 12

find out the monthly payment PMT then times it by 240 and minus the principal.

[nh4n]

kinda scary with whole module having no B for an answer.. had to check all answers 4times in the 50 mins i had left after finishing exam in 40 =x

[*insert witty name here*]

kinda scary with whole module having no B for an answer.. had to check all answers 4times in the 50 mins i had left after finishing exam in 40 =x

haha..you're quite modest