Hi e.g. for the present value of a 5 year annuity payable annually in arrears where i - 8% Do you lose marks for just quoting the PV from the tables instead of showing working out? or if part of the question required you calculating V^20 would you lose marks for just quoting it from the tables? I'm thinking especially of basic questions worth only around 3 marks.......it seems to good to be true to be allowed to just quote the figure from the tables and get full marks. Thanks
How do Phil I think with the small mark questions if it says "calculate" a_n then you should actually calculate it, then use the tables to check the answer.. The tables do save time in the easy cases, but I think its best to learn the formula (they are actually quoted in longhand under the "international actuarial notation" section of the yellow books... then if you can remmeber your geometric series sums Sn = a(1-r^n)/(1-r) and S_inf = a/(1-r) then you should be able to derive the formula even if you forget them in the exam Remembering them also has the advantage if the annuity is not as simple as a_n... although the tables also give i/i(p) etc i think its fiddley looking them up, and its easy to look one up wrong... best of luck for tuesday
