| Posted: 07 Apr 2009 at 21:45 | IP Logged
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cinnamon wrote:
rchxenson wrote:
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sorry but recognizing that anything returned over the par amount is intrest isn't 'way off', but thanks for the vote of confidence.
Sarcasim doesn't come across very well on the message boards but that was some and so was the
'I don't know if I should feel good because I could calculate an answer becker could not or what..'
taken from my orginal post. If you can't laugh at yourself soemtimes when you are studying, you will probably kill yourself in the details.
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hey!! No worries.I have calculated the exact same answer as you have done. Actually this question is very tricky because it does not mention anything about par, premium or discounts. From my experience with loans and bonds, the principal installment is every time the same (and is calculated as an equal % of the face) and only the interest expense varies. So your thinking is close to that practice. However, I guess that the answer of 22500 was derived from a tiny tiny detail of Becker book, F5-74 (Appendix)-Notes payable bearing a reasonable interest rate are recorded at face amount and interest is accrued at the stated rate of interest (9% in our example). Hope that helps. And don't feel bad. I was caught in the same trap and was close to sending an email to Becker about including a diff. explanation on this. Besides if you don't make mistakes you don't learn.Keep your confidence up !
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Agreed, cinnamon :) "if you don't make mistakes you don't learn.", well said ! I did this question again today and did it correct.
However, I saw on the left hand side that I attempted it wrongly in the first attempt. So, even I was caught in the same trap....
Just wanted to share something:-
When I initially started studying, I was being told by my friends who had cleared CPA that "Divya, even if you go through the lectures and feel confident that you have understood the chapter well, that would be called over-confidence. So, never ever skip the mcqs. They are so tricky at times that you get confused often in first go and do them wrong. If you practice them well & get them right 2nd, 3rd time, you would be good to give the exam"
So friends, don't lose your confidence and never give up.... I am doing F5 for the fourth time as this chapter often confuses me ! So, it happens with everyone. Some people admit, some don't !
So, Good luck studying..... And yes rchxenson, sometimes if we have to laugh at ourselves, it is a good method to ease out our worries and proceed ahead with less burden on our mind :)
__________________
Divya - CO State
Passed using Becker Review :
FAR - 04/11/09 - 94
BEC - 05/30/09 - 86
REG - 08/29/09 - 95
AUD - 11/21/09 - 92
Ethics - 2011
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