oh I saw that too but I'm pretty sure it's just an email from a school's maths department like it says at the bottom to their students
Oh ok, i think that @erucibon might mean how they are going to change scalingoh I saw that too but I'm pretty sure it's just an email from a school's maths department like it says at the bottom to their students
whoops, I saw that on fb and thought it was from NESAoh I saw that too but I'm pretty sure it's just an email from a school's maths department like it says at the bottom to their students
waittttt what were the other common questions?
The point of that email shown in this thread would be that if an exam is genuinely dificult and found challenging by most of the cohort, the scaling process will accomodate that. Not that any special scaling or aligning is being performed.Did you guys get an email from NESA saying that they apologise for making it too hard and will consider that in scaling?
I worked through this one on a spreadsheet. I know the answer is $34 486.50. But who knows how to get there using the PV table? It's doable for the Advanced guys with GPs, but this was in the Standard paper only.I used the table to find the total value of the first 20 days and add it to the next 10 (or 11?) days to get a total. Then i think i went to far by trying to turn it to a present value. I should get some working marks though.
Yeah I was actually wondering if that table was there to confuse us and wasn't even necessary. I doubt that is the case but I had no idea how to do that one.I worked through this one on a spreadsheet. I know the answer is $34 486.50. But who knows how to get there using the PV table? It's doable for the Advanced guys with GPs, but this was in the Standard paper only.
That question did not require GPs. The PV table is to be interpreted to get the correct answer.I worked through this one on a spreadsheet. I know the answer is $34 486.50. But who knows how to get there using the PV table? It's doable for the Advanced guys with GPs, but this was in the Standard paper only.
Cracked it. Answer is $34486.That question did not require GPs. The PV table is to be interpreted to get the correct answer.
χ = 22 - 0.525Why was that exam so hard. It was harder than all the practice paper I did. Can someone pls tell me what they got for the cricket question
I did exactly the same as you, and also had difficulty getting there with the PV table. I think in all the discussion about the crickets and the decagon that the complexity of this question has been lost a bit.I worked through this one on a spreadsheet. I know the answer is $34 486.50.
Did anyone on here that done the standard exam get the correct answer to that?I did exactly the same as you, and also had difficulty getting there with the PV table. I think in all the discussion about the crickets and the decagon that the complexity of this question has been lost a bit.
A teacher at my school came up with the following method, which is slightly different to yours and results in $34486.90, only 40c different from a spreadsheet model. The table is only good for 4 or 5 significant figures, so some errors are to be expected.
1. Consider the last 10 years. To withdraw $3000 per year you need to have 8.983*3000 = $26949 at the start of Year 21.
2. Now consider the first 20 years. To withdraw $1000 per year you need 16.351*1000 = $16351 at the start of Year 1. But you also need enough money at the start of Year 1 to cover the $26949 you need in 20 years' time. Let that be M. It compounds at 2% per year, so M*1.02^20=26949, so M=26949/(1.02^20)=18135.9.
3. Putting this together you need 16351+18135.9=$34486.90 at the start.
That's a pretty good solution too. I think that was where I was trying to go at first, but just stuffed up the compounding.1. Consider the last 10 years. To withdraw $3000 per year you need to have 8.983*3000 = $26949 at the start of Year 21.
2. Now consider the first 20 years. To withdraw $1000 per year you need 16.351*1000 = $16351 at the start of Year 1. But you also need enough money at the start of Year 1 to cover the $26949 you need in 20 years' time. Let that be M. It compounds at 2% per year, so M*1.02^20=26949, so M=26949/(1.02^20)=18135.9.
3. Putting this together you need 16351+18135.9=$34486.90 at the start.