Sorry, I haven't written in this blog for a while. It could be because I've been really busy studying for the exam. Sadly that's not the case. The only study I've done this week is finishing reading 1 for study session 2. It's pretty bad, but I've been bogged down by university work. Hopefully when the exams are over I can put alot of energy into the exam. I still want to finish when I originally planned to so I will have to work a bit harder I think. Let's see how it goes..
Reading 1 primarily teaches the time value of money. Since this is one of the fundamentals of finance, I think it's a good area to start. Of course it was all revision to me. I used the examples to learn to use the calculator. It's not so hard to use. I only hope I don't forget how to do it on paper because I think it's important to be able to do it like that. It shows you understand the concepts better.
I learnt a new formula I hadn't come across. It was the growth rate formula:
g= (FVN/PV)1/N - 1
You use this formula to find the interest rate if you're given the present and future values with a number of years between them. It's quite handy and although I can use my calculator now, I'm sure I'll keep this in mind. Can you believe in finance 251 they told us if we don't have a finance calculator, the way to find the interest rate was guess and check!? After seeing this formula I can't..
198 days until the level 1 exam.
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