and some partial answers so that you can see and have some practice with some diverse examples of the formatting and style of questions. The actual test will differ.

You can expect to have real-life scenarios that are similar to those we have seen. For instance, in part a) you might be asked for a monthly loan payment, in part b) the total paid, in part c) the first month's interest... So review the lump sum, periodic payment and loan payment scenarios as well as the total paid/put in, the total interest, the first months interest, "simple" interest...

If Excel showed:

325 538.51 0.79 537.71 (385.27)

then the total paid is 325*538.51 - 385.27 and the total interest is 325*538.51 - 385.27 - 84212,

For the test, you might need to

You should review

You should be able to answer questions like what algebraic operations were useful and you can review

You will also be asked to look at examples from the finance segment and discuss the similarities with the following themes:

In the derivation of the periodic payment formula - we looked at the future value of each payment. Even though we found a pattern, it was impossible to use for long time periods since there were as many terms as compounding periods. So next we stepped back, shifted our view of it by transforming it by a common piece and then we combined the shifted equation with the original. The overlap cancelled to give us a general formula that was easy to use and only had a couple of terms. This involved looking at a change in view and organization that eventually simplified an impossible problem and made it possible to solve.

Thrifty Saver's account from

Lisa:

.05= 100 (1+ .023/n)

It was impossible to construct a solution since the unknown compounding period appeared both in the power and what was being raised to the power. So algebraic techniques cannot construct a solution [even logs aren't powerful enough for this problem]. Goal Seek in Excel also was not powerful enough to solve this for us, and gave us an answer that did not make sense, so we used the Equation Solver in Excel along with common sense and a "guess and check" perspective - this is not a constructivist proof, as it does not show us how or why it works. Instead the computer (or we) guesses and checks until it finds an answer [and then we use common sense to evaluate whether that answer suffices].

For instance, a question could be phrased like:

Similar questions would ask about the other themes. Real-life considerations can be ill-defined and have multifaceted aspects. Whether it is counting the number of stars, understanding why the Franklin funds never earns 5%, or many of the other concepts, many cases require the critical and creative analysis of a variety of interpretations in order to fully consider the implications.

Here are a few words of encouragement that are adapted from