C
C. Smith
A man goes in the bank and set up an account with a 9.5% annual interest. At the end of the year, his account has earned $475.00. What was the amount he originally deposit?
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C
Chip Pearson
See the PV function.
--
Cordially,
Chip Pearson
Microsoft MVP - Excel
Pearson Software Consulting, LLC
www.cpearson.com
$475.00. What was the amount he originally deposit?
--
Cordially,
Chip Pearson
Microsoft MVP - Excel
Pearson Software Consulting, LLC
www.cpearson.com
interest. At the end of the year, his account has earnedC. Smith said:A man goes in the bank and set up an account with a 9.5% annual
$475.00. What was the amount he originally deposit?
N
Norman Harker
Hi C. Smith!
We don't do homework.
However, the amount at the end of a year is a future value as viewed
at the beginning of the year. You have a rate of interest and a term
of 1 year. The interest is expressed as being "annual interest".
Chip has suggested looking at the PV function.
When completing the homework, don't forget to attribute the help that
you received; attribution will generally be not only acceptable but
can score higher marks.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
We don't do homework.
However, the amount at the end of a year is a future value as viewed
at the beginning of the year. You have a rate of interest and a term
of 1 year. The interest is expressed as being "annual interest".
Chip has suggested looking at the PV function.
When completing the homework, don't forget to attribute the help that
you received; attribution will generally be not only acceptable but
can score higher marks.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
B
Bob Phillips
What do you call all these NG replies then?
Bob
Bob
Norman Harker said:Hi C. Smith!
We don't do homework.
However, the amount at the end of a year is a future value as viewed
at the beginning of the year. You have a rate of interest and a term
of 1 year. The interest is expressed as being "annual interest".
Chip has suggested looking at the PV function.
When completing the homework, don't forget to attribute the help that
you received; attribution will generally be not only acceptable but
can score higher marks.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
D
Don Guillett
At last, an honest requester. Look at the PV function in HELP index
--
Don Guillett
SalesAid Software
(e-mail address removed)
he originally deposit?
--
Don Guillett
SalesAid Software
(e-mail address removed)
At the end of the year, his account has earned $475.00. What was the amountC. Smith said:A man goes in the bank and set up an account with a 9.5% annual interest.
he originally deposit?
N
Norman Harker
Hi Bob!
As Don points out, at least an honest requester! Quite a lot are
suspicious but could be real. Those who are honest at least get the
good advice about attribution. Those who aren't...
In this case, the question indicates a homework task as it is very
rare not to know the amount originally deposited.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
As Don points out, at least an honest requester! Quite a lot are
suspicious but could be real. Those who are honest at least get the
good advice about attribution. Those who aren't...
In this case, the question indicates a homework task as it is very
rare not to know the amount originally deposited.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
B
Bob Phillips
Hi Norm,
You've lost me here I am afraid, I was referring to this statement in your
response
.... We don't do homework
<G>
Bob
You've lost me here I am afraid, I was referring to this statement in your
response
.... We don't do homework
<G>
Bob
N
Norman Harker
Hi Bob!
Getting late here and not enough beer! Exchanged the last (warm) beer
with Frank for one of his 1000 camels.
If this was work, we wouldn't do it! It's a hobby and an indication of
the restricted lives we have.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
Getting late here and not enough beer! Exchanged the last (warm) beer
with Frank for one of his 1000 camels.
If this was work, we wouldn't do it! It's a hobby and an indication of
the restricted lives we have.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
H
Harlan Grove
...We don't do homework.
BS! Some just don't do it when the OP is brazenly honest about asking.
When completing the homework, don't forget to attribute the help that
you received; attribution will generally be not only acceptable but
can score higher marks.
Possibly where you come from, but where I come from there's a difference between
assignments for which there's an expectation of synthesis of research materials
and original (and unassisted) personal derivation. Attribution may score one
points for honesty (and avoid censure for plagarism), but it often gets zeros
when the expectation was that the student would do the work on their own. That
is, failure only rather than failure and sanctions.
D
David McRitchie
Advise on how to pursue a problem but it's not an answer that would
get credit in itself.
You might ask a mechanic, a painter, or a carpenter how to do
something and get free advise, but they aren't likely to take the
dents out of your car, blueprint the engine, paint your house, and
build on an addition for free -- that's work.
As far as the advice to get extra credit for how he got his
answer, I think Norm was being facetious with the extra credit.
He knows darn well a student isn't going to tell the teacher they
tried to have someone else do their homework.
==
get credit in itself.
You might ask a mechanic, a painter, or a carpenter how to do
something and get free advise, but they aren't likely to take the
dents out of your car, blueprint the engine, paint your house, and
build on an addition for free -- that's work.
As far as the advice to get extra credit for how he got his
answer, I think Norm was being facetious with the extra credit.
He knows darn well a student isn't going to tell the teacher they
tried to have someone else do their homework.
==
B
Bob Phillips
Good grief, you make a small joke, and you get a lecture.
N
Norman Harker
Hi Harlan!
Re: "(and unassisted) personal derivation."
We have problems these days with getting this and I think that with
assessable work an academic is doomed to having to accept the
impossibility of securing it with assessed take home assignments.
As a result, if we want *assessable* unassisted personal derivation it
has to be done in class or in examination conditions. It's unfortunate
that we can't rely on student declarations of not being assisted where
the work is take home and is assessable.
With non-assessed work we encourage students to try and derive
solutions themselves and point to requirements in examinations of
personal derivation.
Otherwise for assessed work we will accept and allow "researched" work
provided that it is fully attributed in terms of assistance received.
It's a changing area and with the changing technology and assistance
now available from newsgroups etc. we have to change our systems.
We also have to consider the increasing tendency of students to appeal
against marks and were I to default *assessed* attributed work to zero
because of acknowledged assistance, I would probably lose an appeal on
the grounds that dishonest or the existence of potentially dishonest
students could pass if they got assistance and didn't acknowledge it.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
Re: "(and unassisted) personal derivation."
We have problems these days with getting this and I think that with
assessable work an academic is doomed to having to accept the
impossibility of securing it with assessed take home assignments.
As a result, if we want *assessable* unassisted personal derivation it
has to be done in class or in examination conditions. It's unfortunate
that we can't rely on student declarations of not being assisted where
the work is take home and is assessable.
With non-assessed work we encourage students to try and derive
solutions themselves and point to requirements in examinations of
personal derivation.
Otherwise for assessed work we will accept and allow "researched" work
provided that it is fully attributed in terms of assistance received.
It's a changing area and with the changing technology and assistance
now available from newsgroups etc. we have to change our systems.
We also have to consider the increasing tendency of students to appeal
against marks and were I to default *assessed* attributed work to zero
because of acknowledged assistance, I would probably lose an appeal on
the grounds that dishonest or the existence of potentially dishonest
students could pass if they got assistance and didn't acknowledge it.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
X
xlgothejob
Maybe I am missing something....but are we way overanylizing thi
question or what? This is obviously for a young student.
Looka.... C. Smith....plot it out 1st like a math teacher would tel
you. Don't let words shake you up. Turn your words into mathematica
expressions. Your given information is:
9.5% annual interest, total at end of yr is $475. What you are tryin
to get is: origal deposit. Translate the word annual into a number:
12.
Next set up your algebraic expression: $475/(12x9.50%)=A
or 12 months times 9.50 percent divided by $475 equals your Answer.
In excel you will just put in your knowns and use the simple function
to figure it just like a calculator.
Column A (9.50%) Coumn B (12) Column C ($475) Column D (will be you
answer)
make sure you format the columns to the specific number type, lik
percent or number currency. Then in your column D you want to set u
your formula calculating your mathematical equation beginning with th
equal sign.
Good luck
question or what? This is obviously for a young student.
Looka.... C. Smith....plot it out 1st like a math teacher would tel
you. Don't let words shake you up. Turn your words into mathematica
expressions. Your given information is:
9.5% annual interest, total at end of yr is $475. What you are tryin
to get is: origal deposit. Translate the word annual into a number:
12.
Next set up your algebraic expression: $475/(12x9.50%)=A
or 12 months times 9.50 percent divided by $475 equals your Answer.
In excel you will just put in your knowns and use the simple function
to figure it just like a calculator.
Column A (9.50%) Coumn B (12) Column C ($475) Column D (will be you
answer)
make sure you format the columns to the specific number type, lik
percent or number currency. Then in your column D you want to set u
your formula calculating your mathematical equation beginning with th
equal sign.
Good luck
N
Norman Harker
Hi xlgothejob!
Maybe we are over-analysing in suggesting use of PV function, but your
formula is wrong.
FV=PV*(1+rate)
PV=FV/(1+rate)
PV doesn't really come into its own until you get to more complex
questions.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
Maybe we are over-analysing in suggesting use of PV function, but your
formula is wrong.
FV=PV*(1+rate)
PV=FV/(1+rate)
PV doesn't really come into its own until you get to more complex
questions.
--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.