I see lots of formulas. I am in Book 1 At the moment. Do we have to learn all the formulas like PV (1+r) n and many others. Or there will be some sheet where specific formulas will be provided during exam ?
in short, yes to the first, no to the second question.
What’s more important than knowing all the formulas is understanding the underlying concepts. You won’t be doing very many calculations during the actual exam, but going through the calculations helps you understand the concepts and also along the way of doing these calculations, you will end up memorizing most of the formulas. Hope that makes sense.
the formulas will be applyed in concepts in later readings. Yes, you will have to do some calculations. Yes, in the real world you need all of them in finance.
yes - You have to memorize all formulas
Book 1 has toooo many formulas… jus learn how to use ur calculator… that shd help!
Memorize topher’s comment instead. Usually the formula is a shorthand way of explaining a concept. Understand the concept and you won’t need many formulas (the PV formula you will need, but if you understand the formula because that;s the only way it can be).
Lmao@Joey - Good one… I feel your pain though owaissiv…god knows I’m forgetting as much as I manage to remember. That said, it’s the first reading and I’m flying along.Woohoo!! What I’m doing is making a lil cheat sheet of my own through flashcards…helps some but like everyone says nothing like getting “why” instead of merely “what”.