The initial round of mastery exercises was a valuable and interesting topic related to my career path. Learning the equations (with final value, present value, interest rate, time, APR etc.) enabled me to understand how the variables relate to each other. The definition of each variable grew in clarity as I saw how each was altered due to changes in the others. I also appreciate how the equations were math problems which cannot be refuted due to its objective essence. To establish plans for management of forest lands, I am going to need to calculate the degree to which financing projects make sense before negotiating conditions of agreements. Specifically, understanding how the interest rate of loans over a given time impact present value and final value is crucial. Further, in general, the practice of identifying the given variables in a word problem and solving for X is a strategy I see myself using to determine the type and number of trees to be planted in forestry projects. Being re-exposed to economics equations encourages me to make my own mathematical templates for endeavors such as thinning forests and monitoring the growth of new seedlings. I could make the use of the concept even more effective by completing additional practice problems. I can also strengthen my skillset in terms of recognizing real-world situations where these equations apply. Doing so increases my ability to be efficient in terms of pushing as many projects through the process from contract to fruition.

Comment by Natalia Sudyka:

Interesting feedback on your experience with this course. I also found the mastery exercises as a way to dive deeper into the numbers and understanding how the factors affect each other. PV, FV, NPV, IRR etc., are all values we need to understand in our daily lives, whether making financial decisions ourselves or for projects such as management of forest lands for you, or energy efficiency projects for my area of work. Glad you also found these helpful!

Comment by Joshua Florentino:

I think you are right about learning the differences between the different measures like you said ” Learning the equations (with final value, present value, interest rate, time, APR etc. enabled me to understand how the variables relate to each other”. The way interest rates are presented and calculated makes a world of difference. Its not just for business but practical knowledge for everyday life to better understand what you are truly being charged.