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sam says

Hi John,

I just wanted to say a HUGE THANKYOU to you and for your free lectures and course notes. After sitting this exam 4 times, I was at my wits end, so decided to take a different approach to learning. Many people told me not to have the faith in open tuition as it is free, but here I am on results day with a huge smile on my face because I have passed.

I can now move on to my professional level exams and will be one step closer to being qualified!!!

THANKYOU SO SO MUCH.

Sam

John Moffat says

Hi Sam

Thank you very much for your comments, and many congratulations on having passed.

I am very pleased indeed for you

All the best for your next exams

sam says

I am stuck on how to put it in the calculator.

I first put in 3/4 x 5 x 2,000 squared, divided by 0.00014.

On my scientific calculator this gives me 1.071428571 x 10 to the power of 11. How do I then go from here to putting in the cubed root and getting an answer of $4,750?

Everytime I push the cubed root button it throws up an error.

Please help

John Moffat says

Sorry, but I cannot help because different calculators work in different ways.

Have you looked at the instruction book for the calculator?

sam says

Yes, but no help. My main issue is how to get from 1.0714 to the power of 11 to the cubed root. Do I multiply it by cubed root or just put 1.0714 the push thecubed root button? It has been years since I was at school so my knowledge on these calculations is very scratchy.

John Moffat says

You certainly don’t multiply by the cubed root.

On my calculator you simply press the cubed root button.

Victoria says

Am I being stupid, or is 2,000 squared not 4,000,000?

So should it not be 3(3/4 * 5 * 4,000,000)?!

Help, I’m lost!

John Moffat says

2000 squared is indeed 4,000,000

However, what about dividing by the interest rate, and then taking the third root?

If you look at the Course Notes, you will find the formula at the front of them, and the answer to the example somewhere at the back.

iluvgorgeous says

using scientificic calculator why multiply by 11 as shown a member?

John Moffat says

I am not sure what you are trying to say here

cecel says

Finally understood totally that miller orr calculation! Never seemed to get that spread calculation correct until now! Thanks John!!!

saulat says

i am using casio fx-82MS calculator. the amount in the bracket 0.75 * 5 *4000/0.00014 it gives me 107,142,857. before taking cube root. like 0.75 * 5 *4000 equals to 15000 / 0.00014 equals to 107,142,857 before taking cube . and after cube it gives 10350 ? i m really confused ? how to use it on a calculator ?

wellaz26 says

variance = (standard deviation) squared = 2000 squared = 4m and not 4000.

the figure in the bracket should be 0.75 * 5 * 4 000 000/0.00014 = 1.0714 to the power 11 the cube root gives you 4749.57 and multiply by 3 = 14 248.71 rounded to 14 250

Mahoysam says

Thanks for making the percentage bit clear! At work, I had a percentage which was 0.01%, I thought this meant 1%!! That actually confused me and I was still confused, until now when you made it clear that there is a difference when you add the percentage sign to the decimal.