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WELCOME TO THIS PAGE INTENDED FOR STUDENTS AT THE UNIVERSITY OF THE WESTERN CAPE REGISTERED IN 2010  FOR THE MODULE:

QSF  132

T1 W3 L1

CALCULATOR SKILLS

6.2

FORMULAE: FOR NO 12

 Accumulated Value or Future Value FV after period n, where PV is the present value (Compound Interest) AF = Accumulation Factor (AF) Present Value PV (Compound Interest) Present Value of an Annuity for a period n: Future Value of an Annuity for a period n:

WORD SUMS : WHAT A COURSE IN QUANTITATIVE SKILLS DOES NOT/CANNOT TEACH.

A large supermarket displays three types of toilet rolls in the same large basket for R2.49, R3.99 and R4.99 each.

A. Without using your calculator, determine

1. the cost of 6 toilet rolls at R2.49
2. the cost of 6 toilet rolls at R3.99
3. how much more you would pay for 6 of the most expensive rolls than for 6 of the cheapest rolls.
4. what the chances are of buying each, if the number of toilet rolls  in the basket for each is the same for each type.

B. Discuss the usefulness of a diagram in solving word sums.

C. Discuss the marketing strategy, and what a course in Quantitative Skills does not/cannot teach.

12.            An insurance agent offers services to clients who are concerned about their personal financial planning for retirement. When explaining the advantages of an early start to investing, she uses the example of 25-year old  Jabu who started to save R2 000 a year for 10 years (and made no further contributions after age 34).  Jabu earned more than Jane who waited 10 years, and then saved R2 000 a year from the age of 35 until her retirement at age 65 (a total of 30 yearly payments!).  Find the net earnings (compound-amount minus contributions) of Jabu and Jane at age 65.  An annual interest rate of 7,5% was applicable and the deposits were made at the beginning of each year.

JABU:       R28 294.17499; R247 714.2342

JANE:      R206 798.805

1. WORD SUMS

DIAGRAMMATIC REPRESENTATION OF WORD SUMS (STORY SUMS)

REASON:

1. MOST STUDENTS EXPERIENCE DIFFICULTIES WITH WORD SUMS
2. SERVES AS DIAGNOSTIC TOOL
3. SERVES  AS MEANS TOWARDS REMEDYING/SOLVING PROBLEMS
4. EVERYONE CAN DO IT, PROVIDED  they can read

PURPOSE:

1. To reflect THINKING
2. To understand mathematical thinking
3. To categorise thinking
4. To motivate (I CAN)
5. To empower (WE CAN)
6. To aid discussion/investigation/research

WHAT IT IS NOT

1. NOT A GUIDE/TOOLBOX TO SOLVE PROBLEMS; DOES NOT GUARANTEE A SOLUTION
2. NOT AN EXERCISE OF EXCELLENT SKETCHING/DRAWING
3. NOT ARTISTIC EXPRESSION
4. NOT TIME CONSUMING

PRINCIPLES/ASSUMPTIONS

1. ALL DRAWINGS ARE DIFFERENT, BUT RELATED
2. EVERYONE CAN MAKE A DRAWING
3. ENJOYABLE
4. THINKING OCCURS IN SHAPES AND PATTERNS, NOT LANGUAGE
5. PROVIDES OUTLINE/FRAMEWORK OR MODLE, NOT SPECIFIC ANSWERS

Example 12

Only once the CORRECT formula is applied to the individual cases, the FV may be compared:

JABU WILL HAVE AT RETIREMENT =

JANE WILL HAVE AT RETIREMENT =

THEREFORE .

1. ANXIETY

©  DESMOND DESAI, DMD EDU-HOME, 2010

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