General Thoughts: General Mathematics (2 Viewers)

[Rafy]

Share your overall exam thoughts here

 

[peteryan57]

upload the paper and i shall list the answers in 15 mins i am a teacher

 

[jl312]

Really good paper overall! So pleased

 

[rednellav]

Really good paper overall! So pleased

Am I the only one who felt like shit walking out? Fuck.

 

[hayleyemma96]

Compared to past years, I thought it was quite time-consuming. Normally I finish in 1hr -1.5hr but I finished in 2hr today.
Bit harder than previous years but pretty good overall


Hayley

 

[Hazballs]

I thought it was pretty easy.. Only question i had trouble with was the tax question 27b (do you minus medicare levy from the thingy?) and 29e - the one where he decides to pay an extra $250

 

[hayleyemma96]

I thought it was pretty easy.. Only question i had trouble with was the tax question 27b (do you minus medicare levy from the thingy?) and 29e - the one where he decides to pay an extra $250

No you add the Medicare levy because that is also a tax.
I had trouble with the last question as a read fuel to mean petrol in the last part so I had to redo it.


Hayley

 

[rednellav]

No you add the Medicare levy because that is also a tax.
I had trouble with the last question as a read fuel to mean petrol in the last part so I had to redo it.


Hayley

So did you add or subtract it from the value (it was 18000 odd from memory)?

 

[hayleyemma96]

So did you add or subtract it from the value (it was 18000 odd from memory)?

I added it to the tax payable (from her income)
So it would've been (2500 x 0.37 + 17547) + (0.015 x 82500)



Hayley

 

[Hazballs]

I added it to the tax payable (from her income)
So it would've been (2500 x 0.37 + 17547) + (0.015 x 82500)

Hayley

So did she get a tax refund?

 

[Cleverusername5321]

So did she get a tax refund?

No, I think she had to pay some amount of money still.

 

[enak101]

I thought it was pretty easy.. Only question i had trouble with was the tax question 27b (do you minus medicare levy from the thingy?) and 29e - the one where he decides to pay an extra $250

Yeah I subtracted the levy, it said the levy was 1.5% or whatever from her taxable income. So idk I got confused not sure if i'm right.

 

[rednellav]

The one where they repay an extra 250 a month you just add that value to M (in the annuity formula... I think the initial M was 2000 or so and then you simply added the 250) and figured out if it reached $300k in 20 years.

My answer was that it didn't.

 

[enak101]

How are you meant to do the interest on that loan thought, I was getting around 900k with compound interest formula (and I think FV annuity formula was around same) can that be right? I wrote that he wouldn't reach it anyway.

 

[hayleyemma96]

So I lost 3 marks for that last question because I over complicated it. And I lost 3 marks in MC already because I didn't read the question properly or worked it out wrong.
94/100 at best which is actually disappointing.


Hayley

 

[rednellav]

How are you meant to do the interest on that loan thought, I was getting around 900k with compound interest formula (and I think FV annuity formula was around same) can that be right? I wrote that he wouldn't reach it anyway.

It has to be an annuity as he made constant repayments iirc. My value was like $285k or something so he was short about $15k.

Anyone else do the same or am I wrong? I'm probably wrong.

Hayley, 94/100 will probably scale to 9387878439787% dw. I feel like I got about 85% which will scale to low 90's imho depending on how my cohort goes.

 

[alex122]

yeah that's what i did! They were short by like $14000 something

 

[rednellav]

yeah that's what i did! They were short by like $14000 something

I love you too now. <3 xoxo

 

[jasonz1c]

The one where they repay an extra 250 a month you just add that value to M (in the annuity formula... I think the initial M was 2000 or so and then you simply added the 250) and figured out if it reached $300k in 20 years.

My answer was that it didn't.

Did you use the first present value formula?

I used that formula and worked out the bracket part and got an answer. I then did 300,000 divided by ANSWER.

Then I multiplied that answer by 240 and got that it was somewhere in the $500,000s...

So I said he would be able to pay it off.

Am i wrong..

 

[alex122]

I love you too now. <3 xoxo

haha aw i didnt get 60 but i got 2. hahaha ):