FINANCIAL MATHS; i know everyone is scared of it but i need HELP (1 Viewer)

[Skeeta]

Financial mathematics... we know its all a bummer and its crap BUT they say once you know the right formula to use - its easy...
Just one little problem... i have no idea how to find the right formula

Is there a key word in a question that directly leads you to a formula? i know you sometimes need to re-arange the formula's and thats not a problem i just need to know when to do it!!

HELP PLEASE

 

[Misturi]

The simple and compound interest formulas are easier than others - the question will indicate if it was compounded annually, monthly etc.

For future value, if someone CONTRIBUTES a certain amount of money every month or year e.g - Jane deposits $500 every month for 5 years at a certain rate.

This contribution can also be called a repayment.

For present value it is when someone INVESTS money (for a question example, look at 2002 general maths paper and look at Question 23 part b. In this case, present value formula would be used. There is no contributions or repayments.

If you are still confused, on the formula sheet M in FUTURE VALUE is the CONTRIBUTION PER PERIOD. If the question states that the person made contributions or repayments, than use this formula.

I hope this helps

 

[Skeeta]

my guardian angel

Thank you so much - makes much more sense

 

[malkin86]

yep, M is for Money... I'm wierd, I often find that things with Money involved are easier... makes me concentrate more perhaps?

 

[dark`secrets]

i hate financial maths it's one of the worst topics

 

[kylie_robbo]

I actually don't mind financial maths... I really don't like geometry...

 

[Misturi]

Thank you so much - makes much more sense

You are very welcome - l just hope l helped

Remember - If there is contribution or repayment - its furture value

 

[lilmzqt]

i hate financial maths it's one of the worst topics

i COMPLETELY agree with you there........i h8 all those annuity and crap......so confusing......

 

[Misturi]

The annuities is the only thing l don't like...

It does get hard to remember which one to use on the spot.

 

[lilmzqt]

exactly my problem!! evil thigns they.....just plain evil.........

 

[lil_lainy]

i get annuities an stuff..wat i dont get, is like, i think yr 11 finnancial stuff cause i wasnt doing general then..stuff about dredit cards and otha scary things

 

[dark`secrets]

grab a year 11 textbook
ARGH i got like 5 days to study maths (after biz exam)
yeah i got to study uber hard for annuities and stuff
im so lost in that topic. i didnt do general maths until this year

 

[gordo]

is finance part of the series and sequences topic?

 

[dark`secrets]

id ont think we do series and sequences that's for the 2U course..

from the 2U course time payments gives me a headache

 

[gordo]

finance isn't 3u though is it?

 

[grk_styl]

"financial mathematics" is on the general course, however I have no idea if 3u kids do it But yes, general doesn't do series and sequences.