Ok -- I have a question about compound interest. I know the formula - but do you just stick the numbers straight in, or do you need to calculate like Superannuation with a geometric series of A1, A2 ... A20 etc. I don't understand this ...
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withoutaface
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Give me an example and I'll do it for you.
Using formulae for these kinds of questions is bad and its often easier to just derive it according to the circumstances. An example of where this is advantageous is in last year's question 10.
Using formulae for these kinds of questions is bad and its often easier to just derive it according to the circumstances. An example of where this is advantageous is in last year's question 10.
smallcattle
Member
the best way would be to do past papers on these type of questions
often with loan repayments, they guide you through from the beginning, therefore knowing just the formula for the loan repayment for example would not be a good idea. You need to know where did that formula come from so you can do the questions as they guided.
often with loan repayments, they guide you through from the beginning, therefore knowing just the formula for the loan repayment for example would not be a good idea. You need to know where did that formula come from so you can do the questions as they guided.
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C
coca cola
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I find it hard to use the formula, simple logics with this type of questions work best - I agree with you.withoutaface said:
Paroissien
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You have to use the geometric series formula though, that is something.
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flower_farie
Hot Pink Mitten
Superannuation
How do u work out the yrs when ur given a super question? it always pulls my mark down...
like say if they gave u a beginning to end one or an end to end one?
How do u work out the yrs when ur given a super question? it always pulls my mark down...
like say if they gave u a beginning to end one or an end to end one?
withoutaface
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well if you're given a super question such as:
Someone puts $1000 into an account each year, and gets 6% interest per annum
T<sub>1</sub>=$1000
T<sub>2</sub>=(1000)*1.06+1000
T<sub>3</sub>=(1000*1.06+1000)*1.06+1000
=1000*1.06<sup>2</sup>+1000*1.06+1000
∴T<sub>n</sub>=1000(1+1.06+...+1.06<sup>n-1</sup>)
=1000*(1.06<sup>n</sup>-1)/(1.06-1)
=1000*(1.06<sup>n</sup>-1)/0.06
Someone puts $1000 into an account each year, and gets 6% interest per annum
T<sub>1</sub>=$1000
T<sub>2</sub>=(1000)*1.06+1000
T<sub>3</sub>=(1000*1.06+1000)*1.06+1000
=1000*1.06<sup>2</sup>+1000*1.06+1000
∴T<sub>n</sub>=1000(1+1.06+...+1.06<sup>n-1</sup>)
=1000*(1.06<sup>n</sup>-1)/(1.06-1)
=1000*(1.06<sup>n</sup>-1)/0.06
Paroissien
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This is question 9b of HSC 2002.
Steph decides to invest $5000 at 8.75% pa in the fund at the beginning of each year, commencing on 1 Jan 2003.
What will the value be on 31 Dec 2023
Is that the kind of thing you mean farie?
Steph decides to invest $5000 at 8.75% pa in the fund at the beginning of each year, commencing on 1 Jan 2003.
What will the value be on 31 Dec 2023
Is that the kind of thing you mean farie?
flower_farie
Hot Pink Mitten
yeh i always mix up the yrs...like i get the whole question part right and i know how to do it...i guess i have count on my fingiesParoissien said: