Mathematics at University

High school mathematics classes are very different than those at university. Yes, mathematics classes at university are more difficult, but it is more than just that. When you learn mathematics at high school, all of the classes are about solving problems. The students are presented with the theory, the teacher demonstrates how to solve the problem using the theory and then the students try it for themselves.

What happens at university? Firstly, the classes are now lectures and so mathematics is now presented to the student rather than co-created with the student. Some problems are demonstrated, but often the lecture is mostly theory. The drawback is that the student must choose to put in the time in doing the problems outside of the class.

Some universities provide one hour of tutorial time per week or per two weeks. In these tutorials, often a postgraduate at the university will help the students in solving problems from a problem set. While this is welcomed, often the postgraduate is not as approachable as a high school teacher. The same can be said about the lecturer. Yes, you will find some lecturers who are only too happy to offer one-to-one time helping the students but this is not the norm. Most lecturers have their time taken up by research and they view classes as a secondary role of their job. This, of course, is not true for all third level institutes.

In addition to this, the mathematics courses themselves vary. For example, a student taking a course in statistics would be solving many more problems than a student taking pure algebra. Most questions in pure algebra are not “problem based” but rather “proof based”. That is, in statistical classes the student will need to solve a problem and in pure mathematical classes students would mostly be proving a result. The former is more reminiscent of high school mathematics classes.

My advice for students entering a mathematics course at a university would be to stay on top of the questions or problems the lecturer assigns. You will not have the same time in class you would have had at high school for solving problems. Mathematics is not a spectator sport; you must work at it. Mathematics is presented to students as something to “watch” but it is something to work at. And of course, if you find yourself having trouble in your course, then seek help straight away!


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4 Tips To Managing Your Business Loan’s Interest Rate

How can you or your business better manage its current interest rates?Four tips:1) Should You Have A Loan In The First Place?Interest rates are essentially a cost of doing business. Thus, just like any other cost to your company, if your interest rate is too high compared to the returns that those funds will bring in via increased revenue or through cost savings – then you are better off not taking the loan in the first place.What better way to manage high interest rates then not to have to pay them.And, if you already have the loan in place (say to buy some new equipment or inventory), if the loan is costing more than it is worth to the business sell off those assets and pay back the loan. It will be better for your business in the long run.2) Understanding Your Interest Rate:Most rates are based on some risk profile of the borrower. Either credit history, cash flow realization or use of funds.Think about it. A borrower realizes that running a business is not all that easy and simply walks away from their business loan. That is a big risk especially in this economy.Or, a business’s cash flow is barely enough to cover the loan payment to begin with then has a slow revenue period. Will that business be able to make the next loan payment?Or, a borrower wants funding to open a new online business. But, that business is an online gambling site that could be shut down by the government at any time.If you understand how and why lenders price loans, then you can work to mitigate those risk factors (like improving your credit and cash flow or running a legitimate business).Thus, you take away their reasons to charge a high rate or increase your interest rate. Even if you have already taken the loan, when your situation improves, go back to the negotiation table and threaten to take your business elsewhere.You can only help yourself through knowledge.3) Protect Yourself Before You Take The Loan:Small increases in interest rates really should not effect your payment all that much (unless it is for very short-term loans like under 12 months).Example: Let’s say you have a $100,000 business loan at 8% for 3 years. Then, your rate increases to 10%. Your monthly payment will rise less than $100 per payment. Not great but not really all that bad either. Here is why:When making your decision to take a loan, you should always understand what you are getting in return for that new cost. If a $100,000 loan costs you $12,000 over three years in interest, then those funds should return much more to your company over that same period. If it does not, you should not take the loan.But, you should also create a buffer in your revenue estimates especially if you know the economy is in a rising interest rate environment.It your rate does not rise, then that is pure benefit to your company. But, if it does, you are protected or have managed for it.Let’s say your business requires a 30% return on investment and a $100,000 loan will cost you $12,000 over its life. Thus, your company needs to realize some $145,000 to achieve that 30% ($100,000 in principle with the remaining to cover your interest costs and return requirement). Thus, you make sure or look for projects that will return at least that amount.Or, if you think your rate will rise or we are in a poor economy like we are now, then add a cushions. Only accept or look for projects that will return $150,000 or more. Thus, your interest rate can rise a few percentage points and your business will still realize that 30% return.The goal here is to manage your interest with your decision before you request any outside debt or funding by picking the right projects or getting a business loan for the right situation only.4) Paying More:You can always manage your overall interest rate by paying more in principal. Thus, instead of paying more in interest over the life of the loan to your lender; work to reduce the principal that they can charge interest against.A $100,000 business loan at 10% for three years has a payment of $3,227. And, if you pay the loan out, your total interest would be $16,162.But, if you add a little extra to your payment each month (say $580 or 18% increase in your payment) then your overall interest for the life of the loan would drop to $12,811 – essentially making your interest rate 8% (not 10%).Here, you are paying more to reduce principal (to your benefit) then to your interest (their benefit).Further, you end up paying off the loan 7 months earlier.The higher your interest rate gets (say with a variable rate that keeps rising), the more benefit paying additional principal will help.The bottom line is that in a rising interest rate environment, your will pay more. But, you can also manage your business loans to ensure that what you do have to pay is being paid to your benefit and not just going to your financial company.

Why You Should Think About Starting an Online Business

The internet has created many entrepreneurs across the globe.Some people not having any experience, tech savvy, or any money have created online businesses that prosper.There are lots of benefits of starting your own online business.If you’re someone who’s on the fence about starting your own business I think you should take some time to reflect on how it could change your life and the benefits are starting one.My reason for starting an online business was not wanting to have to work for someone else.I wanted to have freedom, flexibility with my time, and an opportunity to make money 24 hours a day.If you’re someone who doesn’t like having to punch the clock this post is for you.Today I wanted to discuss why you should start your own online business and the benefits it can offer.Starting Your Online BusinessStarting an online business isn’t as difficult as one might think.You can get your business started with less than about $100.You’ll need web hosting, a domain name, and an autoresponder.Now just because you have these three things does not mean you’ll be well on your way to quitting your job, but it does mean that you have taken the necessary steps to creating an online business that can potentially allow you to quit your job somewhere down the line.If you never get started then you’ll never have the opportunity to get yourself from where you are to where you want to go.Benefits of an Online Business1) Low CostsAs noted earlier to get started with your own online business, the costs are low compared to other ventures.There are some business opportunities on the web that don’t even require you to have a website.So people make a living online just building an email list and marketing various affiliate products or even their own.It’s not like an offline business where you have rent, employees, inventory, and have to drive to every day.With an online business you have the opportunity to work in the bed, the living room, your favorite coffee shop, etc.Anywhere!You can run your business from the power of your laptop and be profitable doing it with the right plan and work ethic.2) You Control Your IncomeOne of the biggest reasons I wanted to start an online business was to be able to control my income.With most jobs there is a cap on what you can make.If it’s salary, you work at the mercy of your boss only to see the same pay every pay period.It it’s by the hour, you only have a limited amount of hours you can work in a day.With an online business it can work for you 24 hours a day 365 days a year.Who wouldn’t want that?What you earn is solely based on YOU and your EFFORTS of creating the kind of business you want for yourself.3. People Spend Money on the InternetIt’s been reported that consumers will spend about $327 Billion online in 2016.That’s a huge amount of money and if you can tap into a small percentage of that you can make a decent living for yourself.It’s all about finding your place on the web and carving out your own little niche.Internet spending is estimated to account for 40% of all retail sales by 2020 and 84% of the world’s internet users now shop online.People enjoy spending money from the comfort of their own home.These are just a few of many benefits when it comes to a business online.If you are looking to start your own online business do your research and figure out your niche.There is money to be made on the internet, but it’s going to take some work.If you are looking for a new way to make a living, freedom, more time to spend with family, or to quit your job then starting your own business could be the way to go.It’s created new lives for countless others and you could be the next.See you at the top.Best Wishes!