OK....anybody that knows how to use this calculator, please chime in on this, cuz I can't seem to figure out how to compute this problem on my calculator (the $200K option over 5 years). Please advise.

A man wins a sweepstakes giving away one million dollars. He has two options for receiving the money; he can either take two hundred thousand dollars a year for five years or $747,300 now. With a discount rate of 6%, which option has the higher present value?


A) $747,300 now
B) Annual payments of $200,000 for 5 years
C) The present value cannot be computed from the information given
D) Both have equal present values





Detailed Explanation:
Annual payments of $200,000 for 5 years.

$842,472.76 = 200000[(1/.06) - (1/(.06(1.06^5)))]

Present Value = Annual Fixed Payments[(1/interest rate) - (1/(interest rate((1+interest rate)^number of years)))]

To find the present value of the $200,000 annual payments for 5 years, we must plug it in the equation above. We plug in the discount rate in place of the interest rate, and we get the answer $842,472.76. When this is compared to $747,300, which is the present value of one million dollars in 5 years at a 6% discount rate, the annual payments have a higher present value.

Another option to solve this problem, is to use the “present value of an annuity” table. Multiply $200,000 with 4.2124, which we get when we look for 6% and 5 years, and we get $842,480. This is not an exact answer, but it is close enough to determine that the present value of the annual payments is considerably higher than the one-time payment.

I'm currently taking a Statistics course at TESC that is VERY difficult to me. The instructor will not answer questions and instead, directs us to ask our fellow classmates. It is the blind leading the blind...

HAS ANYONE TAKEN THE STATISTICS DSST EXAM? I'm interested to know if it's mainly concepts and terms or more of actual problems? Thanks for your help!

I am enrolling there next month for the MBA in Project Management does anyone have any experience with the below statement i found on thier site?
Does this mean that you can test out of 18 credits towards your masters by exam? How would this be proctored? I guess I should be asking them which im going to send them an email right now.
Thanks!
Will






Students who believe that they have already mastered the content of an Aspen University course may document their mastery by means of a proficiency exam which may be taken for credits that may be transferred into Aspen University degree or certificate programs.

Students who desire credit by these exams should proceed according to the following procedures:


1. Identify the course within the degree or certificate program.

2. Enroll online, selecting "Credit by Exam" as the method of study.

3. Acquire the textbook required for the course. These books can be purchased through the Aspen University on-line bookstore.

After we receive your enrollment you will be sent instructions from the registrar on how to proceed.

Once the exam is graded, the student will be awarded either a ‘P’ [pass] or a ‘U’ [unsat] grade. A ‘P’ will justify the transfer of credit for the course chosen into the degree or certificate program. A ‘U’ will require the student to enroll and successfully complete the course on-line to receive credit.

Students must pay the normal tuition cost plus the cost of the textbook(s) for CBE.

It appears that this exam (paper form) takes most people 3+ hours. If that is the case I hope they either reduced the amount of questions or made the test easier if they expect us to take it timed now. Any thoughts?

Hello all of you fellow CLEPers and Dante exam takers,

I'm reposting this to let you all know that I have finished Production/Operations Management in 1 month with an A+.

If you're going for a business degree at Excelsior College, you will need credits in Production/Operations Management and Business Policy. CLEP and DSST do not offer these exams. TECEP exams seem to be the popular alternative, however, they are reputed to be difficult, expensive, and slow to provide your scores. Rumor has it they cost $450 each, and it takes a good 6 weeks or longer to receive your results. Let me tell you about a cheaper, and possibly quicker alternative that will get you your 3 credits quicker than TECEP.

CSU-Pueblo (Colo St. Univ) offers independent study courses for both of the Excelsior College courses I mentioned. You pay tuition of $297 per course then the Professor emails you a syllabus (which is really a workbook of 20 Application Exercise assignments). You get 6 months to turn in the required assignments and to take 4 exams. The professor will email you an exam before you need it. He will email it to you to take at home. NO PROXY EXAMS!!! You can bust out the assignments and exams as quickly as possible and the professor usually grades them within 24 hours... actually I had most of them graded within a few hours when I submitted them in the morning.

I just finished Production/Operations Management in 1 month. I started on April 9 and finished on May 10.

Plus, the Prof is available for questions by email.
PLUS... They do NOT verify that you have met the prerequisite courses. Even though you would do yourself an injustice to skip over the prerequisite courses, in my opinion. You need them anyway.

You can take the course for $297 in... let's say.. 1 month and get a final grade right away. That sure beats spending $400 for a scary TECEP test that you don't know how well to study for and a long, drug out, lag time waiting for the test to be graded. Besides... what if you fail it?? What a waste of time AND money.
See both course descriptions on this page...

http://coned.colostate-pueblo.edu/In...entStudy/Mgmt/

I've done my research and I think you'd be doing something if you found a better value for Production/Operations Management and/or Business Policy at LSU (independent study) or anywhere else. LSU has a restriction on assignments per week. CSU-Pueblo does not.

The text book was $65 online with a CD that has software you need for the assignments. The CD is a MUST HAVE!!


Hope this info helps you as much as me.

Anyone ever heard of practice exams for ECE or TECEPS!?? I have several teceps to take, but i'm using ic's question banks for the ece version. But, I can't find any practice tests
If anyone knows I'd greatly appreciate it.
Thankssss,

To save cluttering up the Post your Test Results! thread with responses to questions regarding my marathon day of testing I thought I’d start a new thread.

As for how much prep time I took the simple answer is 40+ years. In the last few weeks I concentrated on accounting because of the feedback I had read in the forum and the fact that it was one of my core requirements and I also lightly reviewed some of the other material. My approach was pretty simple, if it was a core requirement I made sure I would pass, if it was an elective than I was willing to gamble.

The detailed approach and reasoning.

Principles of Accounting – I ran my own business in Aus for 7 years so accounting wasn’t exactly new to me. I supplemented my experience with Cliffs Quick Review Accounting Principles I and II and Instantcert and because the exam was a core requirement and worth 6 credits I spent a fair amount of time reviewing the material. I also completed the practice questions from DSST Official Test Preparation Guide – Principles of Financial Accounting and CLEP Official Study Guide 18th Edition -Principles of Accounting.

Analyzing and Interpreting Literature - According to what I had seen in the forum this exam wasn’t going to hold any demons and while it was worth 6 credits a failure wouldn’t have hurt too much as it was an elective. I did look at the practice questions in the REA book which helped with the confidence levels but wouldn’t have spent more than an hour or two preparing for this exam.

Principles of Supervision – Another elective so a failure wouldn’t have hurt too much and with my experience and the fact that I had done ok with Principles of Management I decided that I could attempt this exam without further preparation. I did do the study questions in the DSST Official Test Preparation Guide but that was all I did for this exam.

Organizational Behavior – This was a core requirement so I did spend an hour or so looking at the Rudman book as well as completing the practice questions in the DSST Official Test Preparation Guide. Other than that I was relying on what I had covered when doing principles of Management along with my previous experience.

Management Information Systems – I have a trade certificate in telecommunications and started in IT in the early 80s. The course was an elective though I never really doubted that I would pass it (even having been out of IT for about 6 years). I had the Rudman book but thought it pretty much a waste of time and went into this exam cold.

Principles of Physical Science – this was an exam that I hadn’t really planned on taking just yet but as time was on my side I decided to give it a go. I have the Rudman book and had looked at the first 3 or 4 practice tests in the book and hardly missed a question so as this was another non-critical elective I decided to go for it. Unfortunately those first few tests are nothing like what I found in the exam so while I passed (barely) it was more by good luck than good management. I will write a review about this exam for those that may be considering it in the future.

US History I – As I had passed the Social Science and History test and reviewed US history when preparing for that I was hoping that it wouldn’t take a lot more to prepare for the US History I exam. I have the REA book but hadn’t managed to pass any of the practice exams with the limited preparation I had put in. I had planned on taking this exam in a couple of weeks but still had over an hour left in the day to fit in another test and just decided to go for it. Again, it was a non-critical elective so failing wouldn’t have hurt too much.

I had been frustrated by not being able to get time off to test so I wanted to make the most of the time I had while I had it. I am also a born gambler, so risking the $80 for a CLEP exam or the $90 for a DSST exam wasn’t going to worry me too much. And like most gamblers, while I was on a winning streak I didn’t want it to end.

I had planned on only doing the first 4 or 5 exams, not expecting to have the time or desire to do any more but once I had started it was hard to stop. I approached it as just another day at the office; work for an hour or so, stop for a smoke, bathroom break etc and back to it. It was a long day and I wouldn’t suggest it to anyone that doesn’t have some background, either practical or theoretical, to call on but it is doable.

Best of luck to all

Regards

How many questions am I supposed to get right for a passing score?

Bain4weeks says that "look for 40% to 45% raw score for a standardized score of 50 (out of 80) in the subject and general CLEP exams". Is it so for College Math?

I just found out this morning the UOP location I had been taking my CLEP exams was discontinueing the exams for some period of time. They did not know at his point how long it would be for.

I had two exams already scheduled for thr next two weeks. I'm now looking for a replacement test center. The web site on the College Board site has a broken link for the testing centers.

Does anyone know if there are any sites that give the exams on Saturday? Perfect case this Saturday in/around the Washington DC area. I live in Richmond, but I'm traveling this weekend.

Thanks for any input.

Paul

I am due to graduate in December 2007 majoring in business management and instead of attending graduate school I was thinking of pursuing training in the project management arena. Does anyone have experience with this or know of good training outlets. If you are in this field, do you like it and do you have any advice.

Thanks,

Journey