EBK EXCURSIONS IN MODERN MATHEMATICS
9th Edition
ISBN: 8220103632034
Author: Tannenbaum
Publisher: PEARSON
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Chapter 13, Problem 61E
To determine
To explain:
Why the only even Fibonacci numbers are those having a subscript that is a multiple of 3.
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Chapter 13 Solutions
EBK EXCURSIONS IN MODERN MATHEMATICS
Ch. 13 - Compute the value of each of the following. a. F15...Ch. 13 - Compute the value of each of the following. a. F16...Ch. 13 - Prob. 3ECh. 13 - Compute the value of each of the following. a....Ch. 13 - Describe in words what each of the expressions...Ch. 13 - Prob. 6ECh. 13 - Given that F36=14,930,352 and F37=24,157,817, a....Ch. 13 - Prob. 8ECh. 13 - Given that F36=14,930,352 and F37=24,157,817,...Ch. 13 - Given that F32=2,178,309 and F33=3,524,578, a.find...
Ch. 13 - Prob. 11ECh. 13 - Using a good calculator an online calculator if...Ch. 13 - Consider the following sequence of equations...Ch. 13 - Consider the following sequence of equations...Ch. 13 - Fact: If we make a list of any four consecutive...Ch. 13 - Fact: If we make a list of any 10 consecutive...Ch. 13 - Express each of the following as a single...Ch. 13 - Prob. 18ECh. 13 - Prob. 19ECh. 13 - Prob. 20ECh. 13 - Prob. 21ECh. 13 - Prob. 22ECh. 13 - Prob. 23ECh. 13 - Prob. 24ECh. 13 - Consider the quadratic equation x2=x+1. a. Use the...Ch. 13 - Prob. 26ECh. 13 - Consider the quadratic equation 3x2=8x+5. a. Use...Ch. 13 - Prob. 28ECh. 13 - Prob. 29ECh. 13 - Prob. 30ECh. 13 - Consider the quadratic equation 21x2=34x+55. a....Ch. 13 - Prob. 32ECh. 13 - Prob. 33ECh. 13 - Consider the quadratic equation (FN2)x2=(FN1)x+FN,...Ch. 13 - The reciprocal of =1+52 is the rational number...Ch. 13 - The square of the golden ratio is the irrational...Ch. 13 - Given that F4998.61710103, a. find an approximate...Ch. 13 - Prob. 38ECh. 13 - Prob. 39ECh. 13 - Prob. 40ECh. 13 - Prob. 41ECh. 13 - Prob. 42ECh. 13 - Triangles T and T shown in Fig. 13-23 are similar...Ch. 13 - Polygons P and P shown in Fig. 13-24 are similar...Ch. 13 - Find the value of x so that the shaded rectangle...Ch. 13 - Find the value of x so that the shaded figure in...Ch. 13 - Prob. 47ECh. 13 - Prob. 48ECh. 13 - Prob. 49ECh. 13 - Prob. 50ECh. 13 - In Fig. 13-31 triangles BCA is a 36-36-108...Ch. 13 - Prob. 52ECh. 13 - Find the value of x of y so that in Fig. 13-33 the...Ch. 13 - Prob. 54ECh. 13 - Prob. 55ECh. 13 - Consider the sequence of ratios FN2FN. a. Using a...Ch. 13 - Prob. 57ECh. 13 - Prob. 58ECh. 13 - Prob. 59ECh. 13 - a.Explain what happens to the values of (152)N as...Ch. 13 - Prob. 61ECh. 13 - Prob. 62ECh. 13 - Prob. 63ECh. 13 - Prob. 64ECh. 13 - Prob. 65ECh. 13 - Find the value of x of y so that in Fig. 13-37 the...Ch. 13 - Prob. 67ECh. 13 - In Fig. 13-39 triangle BCD is a 727236 triangle...Ch. 13 - Prob. 69ECh. 13 - Prob. 70ECh. 13 - Prob. 71ECh. 13 - Prob. 72ECh. 13 - Prob. 73ECh. 13 - Prob. 74ECh. 13 - Prob. 75ECh. 13 - Prob. 76ECh. 13 - During the time of the Greeks the star pentagram...
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- Question 2. An American option on a stock has payoff given by F = f(St) when it is exercised at time t. We know that the function f is convex. A person claims that because of convexity, it is optimal to exercise at expiration T. Do you agree with them?arrow_forwardQuestion 4. We consider a CRR model with So == 5 and up and down factors u = 1.03 and d = 0.96. We consider the interest rate r = 4% (over one period). Is this a suitable CRR model? (Explain your answer.)arrow_forwardQuestion 3. We want to price a put option with strike price K and expiration T. Two financial advisors estimate the parameters with two different statistical methods: they obtain the same return rate μ, the same volatility σ, but the first advisor has interest r₁ and the second advisor has interest rate r2 (r1>r2). They both use a CRR model with the same number of periods to price the option. Which advisor will get the larger price? (Explain your answer.)arrow_forward
- Question 5. We consider a put option with strike price K and expiration T. This option is priced using a 1-period CRR model. We consider r > 0, and σ > 0 very large. What is the approximate price of the option? In other words, what is the limit of the price of the option as σ∞. (Briefly justify your answer.)arrow_forwardQuestion 6. You collect daily data for the stock of a company Z over the past 4 months (i.e. 80 days) and calculate the log-returns (yk)/(-1. You want to build a CRR model for the evolution of the stock. The expected value and standard deviation of the log-returns are y = 0.06 and Sy 0.1. The money market interest rate is r = 0.04. Determine the risk-neutral probability of the model.arrow_forwardSeveral markets (Japan, Switzerland) introduced negative interest rates on their money market. In this problem, we will consider an annual interest rate r < 0. We consider a stock modeled by an N-period CRR model where each period is 1 year (At = 1) and the up and down factors are u and d. (a) We consider an American put option with strike price K and expiration T. Prove that if <0, the optimal strategy is to wait until expiration T to exercise.arrow_forward
- We consider an N-period CRR model where each period is 1 year (At = 1), the up factor is u = 0.1, the down factor is d = e−0.3 and r = 0. We remind you that in the CRR model, the stock price at time tn is modeled (under P) by Sta = So exp (μtn + σ√AtZn), where (Zn) is a simple symmetric random walk. (a) Find the parameters μ and σ for the CRR model described above. (b) Find P Ste So 55/50 € > 1). StN (c) Find lim P 804-N (d) Determine q. (You can use e- 1 x.) Ste (e) Find Q So (f) Find lim Q 004-N StN Soarrow_forwardIn this problem, we consider a 3-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year. The interest rate is r = 0%. 16 22 28 12 16 12 8 4 2 time Figure 1: Stock evolution for Problem 1. (a) A colleague notices that in the model above, a movement up-down leads to the same value as a movement down-up. He concludes that the model is a CRR model. Is your colleague correct? (Explain your answer.) (b) We consider a European put with strike price K = 10 and expiration T = 3 years. Find the price of this option at time 0. Provide the replicating portfolio for the first period. (c) In addition to the call above, we also consider a European call with strike price K = 10 and expiration T = 3 years. Which one has the highest price? (It is not necessary to provide the price of the call.) (d) We now assume a yearly interest rate r = 25%. We consider a Bermudan put option with strike price K = 10. It works like a standard put, but you can exercise it…arrow_forwardIn this problem, we consider a 2-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year (At = 1). The yearly interest rate is r = 1/3 = 33%. This model is a CRR model. 25 15 9 10 6 4 time Figure 1: Stock evolution for Problem 1. (a) Find the values of up and down factors u and d, and the risk-neutral probability q. (b) We consider a European put with strike price K the price of this option at time 0. == 16 and expiration T = 2 years. Find (c) Provide the number of shares of stock that the replicating portfolio contains at each pos- sible position. (d) You find this option available on the market for $2. What do you do? (Short answer.) (e) We consider an American put with strike price K = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe the optimal exercising strategy. (f) We consider an American call with strike price K ○ = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe…arrow_forward
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