A basic safe type of investment is an annuity: one makes monthly deposits of size P for n months at a fixed annual interest rater, and at maturity collects the amount 12P r n ((₁ + 2)² - 1) r (This is not the definition of annuity that you may be familiar with, but the calculation is part of any accumulation of funds over time.) Say you want to create an annuity for a term of 300 months and final value of 1,000,000 dollars. Using nlsolve, make a table of the interest rate you will need to get for each of the different contribution values P = 500+50k, k = 0, ..., 10. Hint: if you write a function for the value of annuity, or the difference between this value and one million dollars with several arguments (P, r, n), you can then create a new function of just the one variable r for each value of P in a loop. The table and pretty tables approach used in homework 2 will be helpful here.

A basic safe type of investment is an annuity: one makes monthly deposits of size P for n months at a fixed annual interest rater, and at maturity collects the amount 12P r n ((₁ + 2)² - 1) r (This is not the definition of annuity that you may be familiar with, but the calculation is part of any accumulation of funds over time.) Say you want to create an annuity for a term of 300 months and final value of 1,000,000 dollars. Using nlsolve, make a table of the interest rate you will need to get for each of the different contribution values P = 500+50k, k = 0, ..., 10. Hint: if you write a function for the value of annuity, or the difference between this value and one million dollars with several arguments (P, r, n), you can then create a new function of just the one variable r for each value of P in a loop. The table and pretty tables approach used in homework 2 will be helpful here.

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Concept explainers

Max Function

Statistical function is of many categories. One of them is a MAX function. The MAX function returns the largest value from the list of arguments passed to it. MAX function always ignores the empty cells when performing the calculation.

Power Function

A power function is a type of single-term function. Its definition states that it is a variable containing a base value raised to a constant value acting as an exponent. This variable may also have a coefficient. For instance, the area of a circle can be given as:

Question

A basic safe type of investment is an annuity: one makes monthly deposits of size P for n months
at a fixed annual interest rate r, and at maturity collects the amount
12P
n
r
((₁ + 2)² − ¹)
12
r
(This is not the definition of annuity that you may be familiar with, but the calculation is part of any
accumulation of funds over time.)
Say you want to create an annuity for a term of 300 months and final value of 1,000,000 dollars.
Using nlsolve, make a table of the interest rate you will need to get for each of the different
contribution values P 500 + 50k, k = 0, ..., 10.
-
Hint: if you write a function for the value of annuity, or the difference between this value and one
million dollars with several arguments (P, r, n), you can then create a new function of just the one
variabler for each value of P in a loop. The table and pretty tables approach used in homework 2
will be helpful here.

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