Numeracy 2 MAII3007: Portfolio - Financial Skills and Application

This Numeracy 2 (MAII3007) portfolio provides a comprehensive overview of financial mathematics, covering topics such as powers, roots, logarithms, simple and compound interest, linear relationships, net present value, data presentation using histograms, and probability. The portfolio includes detailed solutions to numerical problems, supported by skills audits to track progress. Real-life examples, online activities, and reflective logs are also incorporated to enhance practical application and critical thinking. The document is available on Desklib, where students can find a variety of solved assignments and past papers to support their studies.

Student Name:
Student ID Number:
Tutor name:
This is your Numeracy 2 e-portfolio which you must submit by Wednesday 25th
April 2018 via the Student Portal.
Numeracy 2 (MAII3007) Coursework Portfolio
February 2018

Please read this carefully
This is your Numeracy 2 e-portfolio for the semester commencing February 2018 (Spring 2018). Please
save a copy on your computer and back it up regularly (e.g. by saving it on your computer / in the cloud
(e.g. Google Drive) / emailing it to yourself. You should print a working copy and bring it to all lectures
and tutorials. However, at the end of the course, you will need to submit a completed electronic copy.
Please read carefully the module handbook, the marking criteria and the grade descriptors.
Academic Misconduct
You are responsible for ensuring you understand the policy and regulations about academic
misconduct. You must:
• Complete this work alone except where required or allowed by this assignment briefing paper and
ensure it has not been written or composed by or with the assistance of any other person.
• Make sure all sentences or passages quoted from other people’s work in this assignment (with or
without trivial changes) are in quotation marks, and are specifically acknowledged by reference to
the author, work and page.
This portfolio consists of two sections:
Section 1 is worth 75% of the final mark and consists of 8 questions (70%) and periodic Skills
Audit (carrying 5%).
Section 2 consists of 3 tasks. Combined they are worth 25% of the final mark.
Task 1 – Two Real life examples (8%)
Task 2 – Online Activity (10%)
Task 3 – Reflective log (7%)

Portfolio Contents
Week / Content Section 1
Question
Learning Outcome Page
Section 1
1. Recap numeracy 1. Introduction. Powers. Use of
calculator
1 * 1,2
2. Powers, root, logarithms. Use of calculator 2 * 1,2
3. Simple & compound interest 1 3,4 * 1,2
4. Linear relationships. Scatter plots. 5 * 1,2,3
5. Further linear relationships 5 * 1,2,3
6. The future value of money. Net present value. 6 * 1,2
7. Presentation of data. Histograms. 7 * 1,2,3
8. Probability. 8* 1,2
9. Revision None 1,2,3
Section 2
10. Real-Life Examples N/A 1,3
11. Online Activity N/A 1,2,3
12. Reflective Log N/A 1,2,3
* Also assessed in the online quiz, Section 2, Task 3

Section 1
This section should be filled in as you acquire the skills required for each question.
Answer all questions. Please show your workings and/or explain your results as required.
Marks will be awarded for good presentation. Please evaluate your progress using the skills
audits provided.
You may use your calculator as required.
You must show your working.
QUESTION 1 [6 marks]
Powers and Roots:
a) Simplify 75 x 72 (2 marks)
b) Simplify 103 ÷102 (2 marks)
c) Evaluate ( 123 )4 (2 marks)
Part a
75 x 72=72+ 5=77=823543
Part b
103 ÷102=103−2=101=10
Part c
( 123 )
4
=123+ 4=127=35831808

QUESTION 2 [8 marks]
a) Express the power 100 1/2 using the root notation and evaluate. (2 marks)
b) Evaluate 3
√ 1,000,000 (2 marks)
c) Simplify 7 3
√ 8−4 3
√ 8 (2 marks)
d) Scientific notation allows one to express large or small numbers in a simpler form.
Express the UK population of 65,648,000 in a scientific notation (2 marks)
Part a
1001 /2= √100=10
Part b
3
√ 1,000,000=10000001 /3=10 ( 6 ) 1
3 =102=100
Part c
7 3
√ 8−4 3
√ 8=7 ( 8
1
3 )−4 ( 8
1
3 ) =7 ( 23 ( 1
3 ))−4 ( 23 ( 1
3 )) =7 ( 2 ) −4 ( 2 ) =14−8=6
Part d
65,648,000 in scientific notation¿ 6.5648 ×107

SKILLS AUDIT: WEEKS 1 – 2
I know how to…. I can do
well
I need
practice
I’m not
sure
I can’t
do
13. I understand what a power is ☒ ☐ ☐ ☐
14. I can perform calculations and
simplifications using power
☒ ☐ ☐ ☐
15. I understand what a root is ☒ ☐ ☐ ☐
16. I can perform calculations and
simplifications using roots, using a scientific
or financial calculator if required
☒ ☐ ☐ ☐
QUESTION 3 [10 marks]
Ann Miller invests £150,000 at an interest rate of 6% p.a.
Calculate the final balance after 5 years.
a) Using simple interest? (1 mark)
b) Using interest compounded annually? (3 marks)
c) Using interest compounded semi-annually? (3 marks)
d) Using interest compounded quarterly? (3 marks)
Part a

A=P+ PRT
100 =£ (150000+ 150000 × 6× 5
100 )=£ (150000+45000)=£ 195000
Part b
A=P(1+r )n=150000(1+0.06)5=£ 200,738.84
Part c
A=P(1+ r
2 )
nt
=150000(1+ 0.06
2 )
5× 2
=150000(1.03)10=£ 201587.46
Part d
A=P(1+ r
4 )
nt
=150000(1+ 0.06
4 )
5× 4
=150000(1.015)20=£ 202028.25

QUESTION 4 [10 marks]
a) Eliza invests £22,000 at a 2% interest rate annually.
Compounding the interest annually, how long will it take her
to receive the balance of £33,000?
(4 marks)
b) Using Rule 72, calculate how long will it take Eliza to double her investments?
(2 marks)
c) Mr Ramsbottom invests £32,000 in a bank savings account and after 10 years his
balance is £45,200.20.
Calculate the compound interest rate he received and round your answer to the
second decimal place.
(4 marks)
Part a
A=P(1+r )n
33000=22000(1+0.02)n
Dividing both sides of the equation by 22000 and simplifying we obtain
33000
22000 =22000
22000 (1.02)n
(1.02)n=1.5
Introducing logs on both sides of the equation we obtain
log(1.02)n=log1.5
nlog(1.02)=log 1.5
n= log1.5
log1.02 =20.475 years
Part b

At 2% interest, rule 72 confirms that it will take 36 years to double the investment.
Part c
A=P(1+r )n
45200.20=32000(1+r )10
Divide both sides by 32000 to obtain
45200.20
32000 = 32000
32000 ( 1+ r)10
45200.20
32000 =(1+ r)10
Introducing logs to both side of the equation we obtain
Log( 45200.20
32000 ¿=10 log (1+ r)
10 log ( 1+r ) =0.14999
log ( 1+r ) =0.014999
1+r =log−1 0.014999=1.4125
r =1.4125−1=0.4125=41.25 %
WEEKS 3 – 4

I know how to…. I can do
well
I need
practice
I’m not
sure
I can’t
do
17. I understand the idea of simple interest ☒ ☐ ☐ ☐
18. I can perform simple interest calculations ☒ ☐ ☐ ☐
19. I understand the idea of compound interest ☒ ☐ ☐ ☐
20. I can perform compound interest
calculations using a calculator if required
☒ ☐ ☐ ☐
21. I understand the Rule of 72 (or 69 or 70)
and can apply it.
☒ ☐ ☐ ☐
QUESTION 5 [8 marks]
a) Find the value of x if 15 x−10=50 (1 mark)
b) Solve the equation X + 20 = 70 (1 mark)
c) Solve the equation x−6
4 = 10 (1 marks)
d) To plot the linear graph of y = 3x + 10 complete the following table:
x - 8 -5 0 7 12 24
y -14 -5 10 31 46 82
(NO graph required)
(5
marks)
part a
15 x−10=50
15 x=50+10=60
x= 60
15 =4
Part b
x +20=70
x +20−20=70−20
x=50

Part c
x−6
4 = 10
x−6
4 × 4=10 × 4
x−6=40
x−6+ 6=40+6
x=46
WEEK 5
I know how to…. I can do
well
I need
practice
I’m not
sure
I can’t
do
22. I understand the idea of a linear
relationship between two variables
☒ ☐ ☐ ☐
23. I can manipulate a linear equation to solve
for a variable
☒ ☐ ☐ ☐
24. I can construct a scatter plot from a set of
data (a linear relationship applies) and
apply a line of best fit.
☒ ☐ ☐ ☐
25. I understand the y-intercept and slope
(gradient) of a graph and their meaning to
real situations ( y=mx+c).
☒ ☐ ☐ ☐
26. I can use the scatter plot produced in part
(12) to derive a linear relationship between
two variables ( y=mx+c).
☒ ☐ ☐ ☐

27. I can use the relationship from part (14) to
extrapolate and interpolate
☒ ☐ ☐ ☐