Special KatKwiz - for math people

persi & alley

persi & alley

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Every now and then, KatKwiz posts an unnumbered KatKwiz that does not have any direct information to teach you about TCS, but is associated with TCS. They are speciality type quizes such as last time you needed to know how to read HTML.

OK, today's special question. NO TIME LIMIT. 300 points. You do NOT need to explain how you got the answer. In fact, please do not, let's see how many guesses we get on this one!

If you had exactly 10,000 points in your TCS bank account right now, and if you in no way touched your account, what would your account balance be in 30 days (rounded to nearest dollar)


As before, I will give hints if nobody seems to be getting close to getting the answer.
 
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persi & alley

persi & alley

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Originally Posted by adymarie

13459 I think......
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OMG! I never thought I would have an answer so fast. This contest is over. To our other contestant, the questions says rounded off to the nearest number (although you were correct but got beat by two minutes.)

(I really expected to get 13,000 as the first answer, but you know your math and 300 points goes into your account!)

OK folks, the next time I have a special KatKwiz BEWARE!
 
adymarie

adymarie

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Originally Posted by Persi & Alley

OMG! I never thought I would have an answer so fast. This contest is over. To our other contestant, the questions says rounded off to the nearest number (although you were correct but got beat by two minutes.)

(I really expected to get 13,000 as the first answer, but your know your math and 300 points goes into your account!)

OK folks, the next time I have a special KatKwiz BEWARE!
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Thank God for calculators! I can't believe I got it correct. This from a girl who's grade 10 math teacher mad her promise that it she never ever took math again, he would pass her!

WOOOOOHOOOO
 
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persi & alley

persi & alley

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Originally Posted by twstychik

Ahh... I missed the rounding part
Must read more carefully.
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I assure you that you would have won the points had you been three minutes earlier!
If you had a financial calculator, this was an easy question, but how many people know how to use a financial calculator? A regular calculator could have been used but it would have taken 15 steps. (10,000 X 1.02 X 1.02 fifteen times.) I won't ask how you got such a precise answer, but you did. I have an abacus that at one point in my life I could have used. I also had a slide rule in college if anybody here remembers those. Anyway, you ARE a math whiz, you just got in too late.
 
twstychik

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Originally Posted by Persi & Alley

I assure you that you would have won the points had you been three minutes earlier!
If you had a financial calculator, this was an easy question, but how many people know how to use a financial calculator? A regular calculator could have been used but it would have taken 15 steps. (10,000 X 1.02 X 1.02 fifteen times.) I won't ask how you got such a precise answer, but you did. I have an abacus that at one point in my life I could have used. I also had a slide rule in college if anybody here remembers those. Anyway, you ARE a math whiz, you just got in too late.
Click to expand...
I just took a financial accounting class this semester. The formula for compounding interest is: Investment*(1+interest rate)^number of times compounded. In this case it would look like: 10,000*(1.02)^15 I punched the formula into excell and got my answer.
 
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