Originally posted on Facebook - 2018-09-021-001 - Math, statement of assumptions

Here is a change in my scenario planning or thinking. 

The purpose of this scenario is to assist persons to:

Work calculations using fractions, multiplications and additions using thousands, that is 000,

Create statements of assumptions and

Perform some research on the internet if you get that far in the question.

It is assumed that persons may have been exposed to these concepts and are using the question to either keep their penmanship skills, their numeracy skills and write between the lines. No offense is intended.

If the phrasings are causing anxiety, please feel free to ask for assistance from a trained professional.

For those of you who are familiar with gaming in this country, the words which are used have been borrowed from the games and the values have been obtained from games played. However these values are not consistent and the scenario was created to test the math and logic skills of persons rather than create expectations of any sort.

So here goes:

Jennifer is the recipient of 3 winning Cash Pot Tickets each with a value of TT$43,000.

Option A - Plan how the funds may be used, using 3 scenarios.

Option B Ignoring taxes for now, calculate the amounts for the following scenarios: Show the workings for each question

i) Calculate the amount of funds which would be received if the 3 tickets are cashed simultaneously.

ii) Allocate the funds evenly between 8 persons. State how much each person will receive.

iii) Assume that each of the 8 persons, gifts the original owner of the ticket with TT$125. Calculate how much the original owner will receive in total.

iv) Calculate how much each person will remain with, after gifting the original owner with the small amount which has been identified above.

As the country's National Budget is approaching, some persons may use the opportunity to:

a) Purchase extra groceries before the Budget date, especially items without VAT,

b)Purchase Bus Tickets as the bus to Piarco operates during the week and not on weekends.

c) Note bus routes with times, locations, so that you cane vacation at locations at home over the next month or two.

d) Create an investment plan using Non Registered Retirement Funds for 1/4 of the funds such as:

I) 6 month Treasury Bills for 1/4 of the funds

e) Place 1/4 of the funds in a deposit account at a Credit Union of your choice.

f) Hold 1/8 of the funds in cash

g) Use 1/16 of the funds to meet the needs identified in a-c.

h) Hold 1/4 of the funds for a downpayment on a home of your choice.

i ) Give spouse a token of appreciation of 1/16 off the funds.

Now if I can create some more outrageous scenarios, there may be some more posts for calculation questions or creative thinking...

Read and enjoy and let me know if the math skills are still there or if they require some work.