BOB - Personal Finance

I'd say this unit was a bit okay for me since I sort of remember a bit of it from applied grade 11.

For me, I feel that I do understand what's happening for the most part, but what has troubled me the most in the unit I think would be the whole process in leasing something. Because you have to find extra things like the residual value, depreciating value, etc.. and I find it a bit hard for myself to just remember how to get those values in order to continue on with the problem. I think I'm good to go with organizing the information on long looking questions though.. so I don't need to worry much about that. But, I tend to second guess myself of whether some certain value goes in which variable spot on the TVM Solver app. Looks like I need to study more.

Good luck everyone.

a[x_x]bc - macs

May 5th Scribe Post

Hey guys, this is my 3rd scribe post..
Today we mostly got caught up in conversations about different things and with the firedrill..
Other than that we went through a couple of warmups and onto a new aspect on our current unit of personal finance.
The lesson we started to learn today was about owning or leasing cars - which one would be better to do?


One of the warmups we started off with was this one on loans:














You start off by inputting the data that you know into the correct places in application TVM Solver.
In this problem, we are given the:
PV ($8250 loan);
I% (8.9%)
P/Y C/Y (compounded monthly)
N (loan repaid in two years [ 24 monthly payments ])

Remember that PV is kept as a positive number this time because since you are loaning money, you are GAINING money that's practically in your pocket rather than investing money that won't be in your pocket.
Use the solve function to find the monthly payment for the loan (PMT).
To find the COST OF THE LOAN multiply the PMT (that you just found) by the # of payments.
To find the INTEREST PAID take the cost of the loan (that you also just found) and subtract it by the previous value (PV).


On these car problems~~ You have to keep in mind that:
When buying a car... You MUST pay;
PST (7%) + GST (5%) when purchasing a NEW car [ 12% tax total ] &
PST (7%) ONLY when purchasing a USED car.



Let's look at the first problem that was given to us on this lesson..
(#1)









Jeff had to pay $21616




-Simply, Jeff is buying a NEW car (12% tax) and selling off his older car to a dealership or somewhere.
-Remember to calculate taxes he must pay AFTER subtracting the cost of the Dodge first because he only has to pay tax on the new Chevy truck that he is buying, not something he is trading in.
***$19300 is being multiplied by 1.12 because that is 12% OF the value + the current value so you won't have to do extra steps on your calculator.***


(#2)

The car is worth 32.77% of it's original value in 5 years.
(since the value of the car was not given we found the % of what the car would be worth instead)






-Because the car constantly decreases in value by 20% every year (due to the way things are in this world) , what's left of the car's value each year is 80% of it...
-So you take 100, multiply it by 0.80 (80%) five times to get the answer for 5 years.

And think about it, if it decreases in value 20% every year, it WON'T be worth nothing in 5 years because its always dealing with a different number. Not stacking up the 20%'s up to 100% of the value.


That's it, that's all.

Thanks for volunteering as the next scribe . . . .
iam.wil

Scribe Post - Vectors

Hey guys, I'm the scribe post for today, April 21st.

**SORRY YOU HAVE TO CLICK
THE PICTURES TO HAVE A BETTER LOOK AT IT**

As most of you should know, we had a substitute today for class.
We were given a worksheet to complete on vectors.
Here it is...







Tomorrow's scribe will be . . . . .
NguyenX
(unless someone would like to volunteer *evil stare*)

Dear BOB,

Considering there's a test very soon... I'm guessing we need to be bob'ing. So here's mine.
Something that I thought was "cool" that I learned in class quite a while ago in this unit was that whole deal about a metre ruler or something. You know.. when Mr. K. asked another teacher to try to explain to us how a 1m ruler is made and such. It was very interesting and complicated.. but nonetheless "cooool" ya digg? So in the end, after that whole complicating, -and cool, explanation of golden rulers and everything, we learned that things are based on a STANDARD. Just like how rulers and measurements are (or should be) the same 'around the world'..

Thank you Mr. K. for taking that extra step to teach us in depth of rulers. xD

Oh and yeah.. I think this was how we were introduced to standard deviations.
I can't remember though.

BOB

Bobbing on Probability

Class was pretty helpful 'today'. I too had trouble deciding whether to use
the combination or permutation formula on certain problems but it is a bit
more clarified now. It can get a little bit tricky but next time I guess I should
just read the question more carefully. And to remember on certain problems
whether to use pick or choose.. maybe I should think that "picking" is
somewhat like favouring a person or a thing when selecting a person onto a
team or whatever (order matters). And "choosing" as the opposite... choosing
people without care of who you choose and what order haha. Well that's
just my interpretation of it. =] Good luck on the test everyone.

Scribe Post

Yay, just got this whole thing fixed. Sort of.
Sorry, I did this all on mspaint and the font looked better
and more readable as a file until it had to be uploaded onto here.
Here are links to the .bmps if you're having trouble reading it on here.
OR just click the pictures on this post.

http://members.shaw.ca/c_macs/1.bmp
http://members.shaw.ca/c_macs/2.bmp
http://members.shaw.ca/c_macs/3.bmp
http://members.shaw.ca/c_macs/4.bmp
http://members.shaw.ca/c_macs/5.bmp
http://members.shaw.ca/c_macs/6.bmp

Sorry again for the inconvenience.















Anyway, that was a lot. I tried though. Hopefully it helps.
I believe this should be worth 2 scribe points! :D
See you...

Oh and.. next scribe will be..

-=''[][][][] . . : : Яέήάή : : . . [][][][]`'=-

haha :)

BOB

Hello 8)
In this Matrices unit I would have to say that my personal "muddiest point" would be the word problems. Involving what we already know into realistic (sometimes) situations. Most of them are quite simple but there are some that are a bit tricky and confusing at the same time. But usually the tricky questions are the ones that just need to be read over more carefully so I can get it. But good thing we had that review practice at class yesterday, it really did help.
See you all later.