MSE’S ‘Academoney’ support discussion thread

jen49

geord1ejeffw said:

Massive thank you Martin for your Academoney Open University Open Learning course. I've just completed the course and achieved my certificate and badge. Very informative and easy learning. Timing perfect during lockdown as I was running out of things to keep my mind interested. Some of the in-course questions are tricky but they make you think! Keep up the good work. Jeff Wilson

Hi Jeff
can I ask you where did you find the badge and certificate - finished the course yesterday and neither are showing on my profile OU in fact it says I haven't even started yet

ajmoney

Lauren7216 said:

Hi,

I wondered if anyone can help with this question please?  I can't understand how the figures for loans 3-5 were reached and therefore why 5 is the cheapest?  

You are buying a vacuum cleaner costing £100. But you need to borrow the money to buy it. You are offered a series of choices to borrow the money. Which loan would you choose?

• Loan 1: pay back £120 at the end of the year.
• Loan 2: pay back £115 at the end of the year.
• Loan 3: pay a £10 arrangement fee and then equal monthly repayments; the interest rate is 5% per annum.
• Loan 4: pay a £5 arrangement fee and then equal monthly repayments; the interest rate is 8% per annum.
• Loan 5: pay equal monthly instalments at an interest rate of 7% per annum, plus a final charge of £3.

 Answer

Which loan did you choose? You may be surprised to discover the cheapest loans are Loans 4 and 5. The issue is that people do not like complexity and so often opt for higher-priced products where the pricing is simpler. For comparison, here are the total costs of each loan option:

• Loan 1 costs £120
• Loan 2 costs £115
• Loan 3 costs £112.70
• Loan 4 costs £109.40
• Loan 5 costs £106.80

Thank you

I got stuck with this too.  I will look at the other answers people have provided and see if I can come up with the answers.  I decided just to carry on anyway in case it was explained later.

I am going through the investment section now and feel like my brain is going to burst.  I really want to understand it all but right now my brain is yelling STOP!

ajmoney

jen49 said:

geord1ejeffw said:

Massive thank you Martin for your Academoney Open University Open Learning course. I've just completed the course and achieved my certificate and badge. Very informative and easy learning. Timing perfect during lockdown as I was running out of things to keep my mind interested. Some of the in-course questions are tricky but they make you think! Keep up the good work. Jeff Wilson

Hi Jeff
can I ask you where did you find the badge and certificate - finished the course yesterday and neither are showing on my profile OU in fact it says I haven't even started yet

I have just finished the course and am wondering this too, is yours showing yet?

jen49

ajmoney said:

jen49 said:

geord1ejeffw said:

Massive thank you Martin for your Academoney Open University Open Learning course. I've just completed the course and achieved my certificate and badge. Very informative and easy learning. Timing perfect during lockdown as I was running out of things to keep my mind interested. Some of the in-course questions are tricky but they make you think! Keep up the good work. Jeff Wilson

Hi Jeff
can I ask you where did you find the badge and certificate - finished the course yesterday and neither are showing on my profile OU in fact it says I haven't even started yet

I have just finished the course and am wondering this too, is yours showing yet?

No not showing yet ajmoney -just checked again and its showing now so I guess it just takes time to up date

Ph0ebeB

Just signed up. Hi everyone!

ElleWoods

I've just signed up too! Looking forward to learning a bit more about finance. 

trishamaldon

How do I sign up

MollyR

Have you not looked at the first post in this thread?

Former_MSE_Molly

Hi everyone! How are you all getting on?
Well, I completed the course yesterday and received my badge and statement of participation today! It was a great feeling!
Who else has managed to find time to complete it?

Starbrite

I have just signed up and about to start the course excited and nervous at some time I am dyslexic and hate maths!