VCE General & Further Maths Question Thread!

[TheEagle]

Is it correct to say that:
V0 = first year
V1 = second year
V2 = third year
V3 = fourth year
V4 = fifth year
V5 = sixth year
thankyou

Yes that would be correct if and only the question mentions V0=start of the loan/investment. Sometimes questions consider the start of the loan/investment as V1.

[TheEagle]

Not at all haha

Part C) since it's simple interest, we use the following formula:    Interest (I) = [(Principle (P) * Rate (R) * Time (T)] / 100
Hence, (4000 * 5 * 6) /100 = 120000

Part D) it's asking for the value of her investment after 7 years, so you add the interest on top of the amount she initially invested.

 Interest earned in 7 years + initial investment ($4000)= 140000 + 4000= 144000 --> value of investment in 7 years.

[zoharreznik]

Anyone who did Methods 3/4 in yr 11 and chose Further/Spesh 3/4 in yr 12 reply with how you found it- interested to know what experiences people had with it

[TheEagle]

Anyone who did Methods 3/4 in yr 11 and chose Further/Spesh 3/4 in yr 12 reply with how you found it- interested to know what experiences people had with it

I did something somewhat similar. I did further in year 11 and doing methods 3/4 in year 12 as well as spesh 3/4(without 1/2). I hated further, it was too boring as we begun revision within a few months due to its considerably easy to understand and short syllabus. However, despite methods being a 1/2 subject, I enjoyed it far more as it required me to think deeply. I am having the same thoughts about spesh (begun the content over the holidays); it's so mind-blowing when you understand a concept, making it interesting. In addition, spesh scales up crazily, so some motivation there. If anything, further will add on more stress imo since slipping up a few marks in the exam can cost you your study score, and on top of that, it will go down due to scaling

[David...]

What is a hurdle

[PhoenixxFire]

What is a hurdle

Is this in reference to a test of some sort? If so it normally means that you're required to pass it to pass the subject.

[ATAR_SLAYER]

Hey everyone, just wanting to double check the answers to the following questions:

1) Fiona borrowed $740 000 to purchase a property at 5.2% p.a.. The loan is to be repaid in monthly repayments over the course of 30 years.

a) Calculate the monthly repayment value

b) Evaluate the value of the interest Fiona would pay over the course of the mortgage.

Thanks in advance!

[TheEagle]

Hey everyone, just wanting to double check the answers to the following questions:

1) Fiona borrowed $740 000 to purchase a property at 5.2% p.a.. The loan is to be repaid in monthly repayments over the course of 30 years.

a) Calculate the monthly repayment value

b) Evaluate the value of the interest Fiona would pay over the course of the mortgage.

Thanks in advance!

a) 4063.42 (~2 d.p)

b) 722831.39 (~2 d.p)

[ATAR_SLAYER]

a) 4063.42 (~2 d.p)

b) 722831.39 (~2 d.p)

Thank you! I got the same answers but wasn't entirely certain as to whether Finance Solver could be used (since it is never explicitly mentioned that it is compounding).

[ashmi]

Thank you! I got the same answers but wasn't entirely certain as to whether Finance Solver could be used (since it is never explicitly mentioned that it is compounding).

You can use Finance solver since it's asking for "monthly repayments" which in this case would mean it is compounding! (Compounding monthly really). Whenever you see repayments, just think Finance Solver as it makes the process so much easier. It would take quite a long time if you didn't use FS.

The stuff you would put in would be:
N = 360
I = 5.2
PV = 740,000
Pmt = (-4063.42) Answer.
FV = 0
Ppy/Cpy = 12

Hope that helps!

Edit: Do not use FS if it strictly says it's simple interest!

[ATAR_SLAYER]

You can use Finance solver since it's asking for "monthly repayments" which in this case would mean it is compounding! (Compounding monthly really). Whenever you see repayments, just think Finance Solver as it makes the process so much easier. It would take quite a long time if you didn't use FS.

The stuff you would put in would be:
N = 360
I = 5.2
PV = 740,000
Pmt = (-4063.42) Answer.
FV = 0
Ppy/Cpy = 12

Hope that helps!

That helped a lot! Thank you!

Also, just another question. How would you go about solving the following:

1) Robert wants to borrow $50 000. He is offered two options by two different financial institutions
- Option 1 = 7.32% p.a. simple interest
- Option 2 = 7.32% p.a. compounded fortnightly
Both options have a 10 years loan term
Calculate the monthly repayment under both options.

[ashmi]

That helped a lot! Thank you!

Also, just another question. How would you go about solving the following:

1) Robert wants to borrow $50 000. He is offered two options by two different financial institutions
- Option 1 = 7.32% p.a. simple interest
- Option 2 = 7.32% p.a. compounded fortnightly
Both options have a 10 years loan term
Calculate the monthly repayment under both options.

So for Option 2, we can use Finance Solver:
N = 120 (12 monthly payments over the course of 10 years?)
I = 7.32
PV = 50,000 (Positive because Robert is borrowing)
Pmt = (-589.13) Answer
FV = 0
Ppy =12 (Because you want monthly repayments only)
Cpy = 26 (Fortnightly compounding periods)

(Note: Btw, I've never seen an exam question where the Ppy and Cpy is different. My answer above might be wrong so if someone wants to double-check please do!)

For Option 1 I would just do your simple interest formula, find how much over the course of the total 10 years and then separate them into monthly payments.
(I've never seen FS actually work for simple interest even with different repayment periods. You usually can only use FS when it's compounding (you can choose to use the compounding formulas or FS but not simple interest/FS)).

[David...]

does a hurdle effect the study score?

[colline]

does a hurdle effect the study score?

Is this regarding a SAC your school has? I wasn't aware of schools making SACs with hurdle requirements. But if yes, then it would depend on your school's policy so best to ask them.

[David...]

I am unsure on how to answer this question

Luisa and Jay have a farm. The weight (kg) of their sheep is approximately normally distributed with a mean of 73 kg and a standard deviation of 14 kg.

Luisa and Jay have 120 sheep. The expected number of sheep that weigh at least 59 kg is closest to:

A.  19
B.  41
C.  100
D.  101   

I know that it is asking for 84% of 120 which is 100.8 sheep. But do I round up or down?

My teacher said to keep the value of 100.

But the textbook would say to round.