I dislike superannuations questions.. (1 Viewer)

[sinophile2]

..Yeah I just wanted to say that.

Like, how exactly do you solve them? I know the method completely, but I always get them wrong because I get the number of installments wrong. Either that, or I get the number of times interest is compounded on the first/last installment wrong.

Could anyone shed some light on this issue? Its been bugging me for six months and dozens of questions already.

 

[boxhunter91]

Im better with time payment question but Superannuation is quite easy.
To do these questions:
A1=(P x r^n) (n = number of years/months left)
A2=(P x r^n-1)
A3=(P x r^n-2)
--->
An=(P x r^1)
.:AT= (A1)+(A2)----> An
.: AT= P(r^n+ r^n-1...r^1)
.:AT=P(r^1...r^n-1 + r^n) (Geometric Progression)
.:AT=P(r(r^n-1)/r-1

 

[sinophile2]

Im better with time payment question but Superannuation is quite easy.
To do these questions:
A1=(P x r^n) (n = number of years/months left)
A2=(P x r^n-1)
A3=(P x r^n-2)
--->
An=(P x r^1)
.:AT= (A1)+(A2)----> An
.: AT= P(r^n+ r^n-1...r^1)
.:AT=P(r^1...r^n-1 + r^n) (Geometric Progression)
.:AT=P(r(r^n-1)/r-1

that doesn't work. Because n represents the number of times inteterest has been compounded, which sometimes is not the same as the number if periods left.

That's why don't like these questions

 

[boxhunter91]

ive done hsc and catholic questions and it always works. so i have no idea what your on about. maybe it isnt superannuation questions your looking at, at all..

 

[ninetypercent]

number of installments is quite easy. if it's yearly, that's even better. for monthly, just the number of years x 12.

the compound interest formula is useful

A = P(1+r)^n

 

[sinophile2]

With that approach, do you usually get it right? Because if so, I might just be overcomplicating it a bit.

Either that, or I don't know something which is crucially important to doing these questions.

Gah, so frustrating. Doing these questions is almost like a hit-and-miss manoever. Its almost as if whether I get it right or not depends on luck.

 

[Drongoski]

When you get it right sometimes and wrong sometimes (hit-&-miss as u call it) it usually means you have not understood the topic well; you still have some misconceptions.

 

[sinophile2]

Okay, well someone please give me an explanation on how to do these types of questions. Because honestly, I dont consider myself to be retarded, and I know the exact method of how to do it, the only point of contention being the number of period the installments are compounded.

Please explain as if you were doing it to an idiot. Cryptic one-sentance answers aren't getting me anywhere.

Here is a question I lifted straight from the Maths in focus book:

Rachel starts working for a business at the beginning of 1995. If she retires at the end of 2024, how much superannuation will she have if $1000 is invested at the beginning of each year at 9.5% p.a?

I got this question WRONG because I made the number of periods to be 29. The answers section of the textbook said the number of periods was 30. Why the FUUUUCK is it 30? The first deposit DOESNT get compounded for thrity periods, because it never crosses into its thirtieth year- it goes into its 29th year and right up to its end, on the 31st of December, but NOT to the 1st of January.

 

[Drongoski]

I don't mean to criticise; I'm just pointing out what the situation is. If you like I'll give you a 2-hour lesson FREE. Arrange place/time. Others can join you if interested. But please don't use the f--- word.

 

[sinophile2]

I don't mean to criticise; I'm just pointing out what the situation is. If you like I'll give you a 2-hour lesson FREE. Arrange place/time. Others can join you if interested. But please don't use the f--- word.

Don't worry, I didn't take your criticism personally. Its just so frustrating to get these types of questions wrong, for what seems to be a year, whilst others get them right without any sort of explanation how. I hope you can understand my intense feelings of despair at having to lose several marks in my HSC due to this type of question.

 

[Drongoski]

I could feel your frustration. That's why I offered you (& others with similar needs) my time. bos is great for getting help; but there is a limit to what it can do. You want to fix it quickly because the exam is not far away.