// Numbas version: exam_results_page_options
{"name": "future value - simple interest (annual only)", "extensions": [], "custom_part_types": [], "resources": [], "navigation": {"allowregen": true, "showfrontpage": false, "preventleave": false, "typeendtoleave": false}, "question_groups": [{"pickingStrategy": "all-ordered", "questions": [{"variable_groups": [], "functions": {}, "parts": [{"variableReplacementStrategy": "originalfirst", "unitTests": [], "variableReplacements": [], "type": "gapfill", "showCorrectAnswer": true, "showFeedbackIcon": true, "useCustomName": false, "scripts": {}, "marks": 0, "sortAnswers": false, "customName": "", "customMarkingAlgorithm": "", "extendBaseMarkingAlgorithm": true, "prompt": "<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">If you&nbsp;invest $\\$\\var{P}$ at a simple interest rate of $\\var{ipa}\\%$ per annum for $\\var{n}$ years, what is the accumulated value of your&nbsp;investment at maturity?</div>\n</div>\n</div>\n<p></p>\n<p>$\\$\\,$[[0]] (to the nearest cent)</p>", "gaps": [{"unitTests": [], "maxValue": "S", "showPrecisionHint": false, "variableReplacements": [], "type": "numberentry", "showFeedbackIcon": true, "precisionMessage": "You have not given your answer to the&nbsp;nearest cent.", "marks": 1, "allowFractions": false, "minValue": "S", "customName": "", "mustBeReduced": false, "extendBaseMarkingAlgorithm": true, "variableReplacementStrategy": "originalfirst", "correctAnswerStyle": "plain", "showCorrectAnswer": true, "notationStyles": ["plain", "en", "si-en"], "precisionPartialCredit": 0, "useCustomName": false, "scripts": {}, "mustBeReducedPC": 0, "correctAnswerFraction": false, "customMarkingAlgorithm": "", "strictPrecision": false, "precisionType": "dp", "precision": "2"}]}], "advice": "<p>We are asked to find the future value using simple&nbsp;interest. Therefore we will use the equation</p>\n<p>$S=P(1+rt)$,</p>\n<p>where $S$ is the future value, $P$ is the present value, $r$ is the interest rate per annum&nbsp;and $t$ is the time in years.</p>\n<p>In our&nbsp;situation we have,</p>\n<p>$P=\\$\\var{P}$,</p>\n<p>$r=\\var{ipa}\\%=\\var{ipadec}$,</p>\n<p>$t=\\var{n}$,&nbsp;</p>\n<p>and therefore</p>\n<p>$\\begin{align}S&amp;=\\var{P}\\left(1+\\var{ipadec}\\times\\var{n}\\right)\\\\&amp;=\\$ \\var{Srounded} \\text{ &nbsp; &nbsp; &nbsp; &nbsp;(to the nearest cent)}\\end{align}$&nbsp;</p>", "extensions": [], "metadata": {"licence": "Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International", "description": "Using simple interest determine the future value, time periods are in days, months, or quarters."}, "ungrouped_variables": ["P", "n", "ipa", "ipadec", "S", "Srounded"], "name": "future value - simple interest (annual only)", "tags": [], "variablesTest": {"maxRuns": 100, "condition": ""}, "statement": "<p>If you are unsure of how to do&nbsp;a question, click on&nbsp;<em>Reveal answers</em>&nbsp;to see the full working. Then, once you understand how to do the question, click on&nbsp;<em>Try another question like this one</em>&nbsp;to start again. Do each question repeatedly to ensure you have mastered it.</p>", "rulesets": {}, "preamble": {"css": "", "js": ""}, "variables": {"Srounded": {"templateType": "anything", "description": "", "group": "Ungrouped variables", "name": "Srounded", "definition": "precround(S,2)"}, "P": {"templateType": "anything", "description": "<p>present value</p>", "group": "Ungrouped variables", "name": "P", "definition": "random(1000..100000#1000)"}, "n": {"templateType": "anything", "description": "", "group": "Ungrouped variables", "name": "n", "definition": "random(5..40)"}, "ipa": {"templateType": "anything", "description": "<p>interest per annum as a percentage (add the symbol afterwards)</p>", "group": "Ungrouped variables", "name": "ipa", "definition": "random(3..9#0.01)"}, "S": {"templateType": "anything", "description": "", "group": "Ungrouped variables", "name": "S", "definition": "P*(1+ipadec*n)"}, "ipadec": {"templateType": "anything", "description": "", "group": "Ungrouped variables", "name": "ipadec", "definition": "ipa/100"}}, "contributors": [{"name": "Ben Brawn", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/605/"}]}]}], "contributors": [{"name": "Ben Brawn", "profile_url": "https://numbas.mathcentre.ac.uk/accounts/profile/605/"}]}