Finite Mathematics
Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Minimization
In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in ter…
Maxima and Minima
The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.
Derivatives
A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which …
Concavity
In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the …
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Chapter 2.2, Problem 49E

Constant Dollars Inflation is running 3% per year when you deposit $1,000 in an account earning interest of 5% per year compounded annually. In constant dollars, how much money will you have 2 years from now? [hinT: First calculate the value of your account in 2 years’ time, and then find its present value based on the inflation rate.]

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Chapter 2.2, Problem 48E
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Chapter 2 Solutions

Finite Mathematics

Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...
Ch. 2.1 - Prob. 11ECh. 2.1 - Prob. 12ECh. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - Prob. 16ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Prob. 29ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Prob. 33ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Prob. 35ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Prob. 43ECh. 2.1 - Prob. 44ECh. 2.1 - Prob. 45ECh. 2.1 - Prob. 46ECh. 2.1 - Prob. 47ECh. 2.1 - Prob. 48ECh. 2.1 - Prob. 49ECh. 2.1 - Prob. 50ECh. 2.1 - Treasury Bills At auction on August 18, 2005,...Ch. 2.1 - Treasury Bills At auction on August 18, 2005,...Ch. 2.1 - Prob. 53ECh. 2.1 - In the formula FV=PV(1+in), how is the slope of...Ch. 2.1 - Given that FV=0.5n+1,000, for what monthly...Ch. 2.1 - Given that FV=5t+400, for what annual interest...Ch. 2.1 - We said that the choice of which of the two...Ch. 2.1 - Refer to Exercise 57. Show that using the formula...Ch. 2.1 - Prob. 59ECh. 2.1 - Prob. 60ECh. 2.1 - Prob. 61ECh. 2.1 - Prob. 62ECh. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - Prob. 4ECh. 2.2 - Prob. 5ECh. 2.2 - Prob. 6ECh. 2.2 - Prob. 7ECh. 2.2 - Prob. 8ECh. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - Savings You deposit $1,000 in an account at the...Ch. 2.2 - Investments You invest $10,000 in Rapid Growth...Ch. 2.2 - Depreciation: 2008 Financial Crisis During 2008...Ch. 2.2 - Depreciation: 2008 Financial Crisis During 2008...Ch. 2.2 - Bonds You want to buy a 10-year bond with a...Ch. 2.2 - Bonds You want to buy a 15-year bond with a...Ch. 2.2 - Investments When I was considering what to do with...Ch. 2.2 - Investments When I was considering what to do with...Ch. 2.2 - Depreciation During a prolonged recession,...Ch. 2.2 - Prob. 32ECh. 2.2 - Prob. 33ECh. 2.2 - Prob. 34ECh. 2.2 - Prob. 35ECh. 2.2 - Sales My recent marketing idea, the Miracle Algae...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Retirement Planning I want to be earning an annual...Ch. 2.2 - Prob. 44ECh. 2.2 - Inflation Inflation has been running 2% per year....Ch. 2.2 - Prob. 46ECh. 2.2 - Inflation Housing prices have been rising 6% per...Ch. 2.2 - Prob. 48ECh. 2.2 - Constant Dollars Inflation is running 3% per year...Ch. 2.2 - Prob. 50ECh. 2.2 - Prob. 51ECh. 2.2 - Investments You are offered three investments. The...Ch. 2.2 - History Legend has it that a band of Lenape...Ch. 2.2 - History Repeat Exercise 53, assuming that the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - Prob. 65ECh. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - Prob. 69ECh. 2.2 - Investments Determine when, to the nearest year,...Ch. 2.2 - Epidemics At the start of 1985 the incidence of...Ch. 2.2 - Depreciation My investment in Genetic Splicing,...Ch. 2.2 - Prob. 73ECh. 2.2 - Bonds Suppose that, in January 2040, you buy a...Ch. 2.2 - Prob. 75ECh. 2.2 - Prob. 76ECh. 2.2 - Prob. 77ECh. 2.2 - Prob. 78ECh. 2.2 - Prob. 79ECh. 2.2 - Prob. 80ECh. 2.2 - Prob. 81ECh. 2.2 - Prob. 82ECh. 2.2 - Prob. 83ECh. 2.2 - Prob. 84ECh. 2.2 - Prob. 85ECh. 2.2 - Prob. 86ECh. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - Prob. 2ECh. 2.3 - Prob. 3ECh. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 712, find the periodic payments...Ch. 2.3 - Prob. 8ECh. 2.3 - Prob. 9ECh. 2.3 - In Exercises 712, find the periodic payments...Ch. 2.3 - Prob. 11ECh. 2.3 - Prob. 12ECh. 2.3 - In Exercises 1318, find the present value of the...Ch. 2.3 - In Exercises 1318, find the present value of the...Ch. 2.3 - Prob. 15ECh. 2.3 - Prob. 16ECh. 2.3 - Prob. 17ECh. 2.3 - Prob. 18ECh. 2.3 - In Exercises 1924, find the periodic withdrawals...Ch. 2.3 - Prob. 20ECh. 2.3 - Prob. 21ECh. 2.3 - Prob. 22ECh. 2.3 - Prob. 23ECh. 2.3 - In Exercises 1924, find the periodic withdrawals...Ch. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - Prob. 26ECh. 2.3 - Prob. 27ECh. 2.3 - Prob. 28ECh. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - Prob. 30ECh. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - Prob. 39ECh. 2.3 - In Exercises 3944, determine the selling price,...Ch. 2.3 - Prob. 41ECh. 2.3 - Prob. 42ECh. 2.3 - Prob. 43ECh. 2.3 - Prob. 44ECh. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Prob. 54ECh. 2.3 - Pensions Your pension plan is an annuity with a...Ch. 2.3 - Pensions Jennifers pension plan is an annuity with...Ch. 2.3 - Prob. 57ECh. 2.3 - Pensions Megs pension plan is an annuity with a...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Prob. 72ECh. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Car Loans While shopping for a car loan, you get...Ch. 2.3 - Prob. 78ECh. 2.3 - Refinancing Your original mortgage was a $96,000,...Ch. 2.3 - Refinancing Kara and Michael take out a $120,000,...Ch. 2.3 - Prob. 81ECh. 2.3 - Note: In Exercises 81 and 82 we suggest the use of...Ch. 2.3 - In Exercises 8390, use a time value of money...Ch. 2.3 - Prob. 84ECh. 2.3 - Prob. 85ECh. 2.3 - Prob. 86ECh. 2.3 - Prob. 87ECh. 2.3 - Prob. 88ECh. 2.3 - Prob. 89ECh. 2.3 - In Exercises 8390, use a time value of money...Ch. 2.3 - Prob. 91ECh. 2.3 - Prob. 92ECh. 2.3 - You make equal payments of $200 per month into...Ch. 2.3 - You make equal payments of $400 per month into...Ch. 2.3 - Prob. 95ECh. 2.3 - Prob. 96ECh. 2.3 - We have so far not taken advantage of the fact...Ch. 2.3 - Repeat Exercise 97 for a 10-year, 3.375% bond...Ch. 2.3 - Consider the formula for the future value of an...Ch. 2.3 - Give a non-algebraic justification for the result...Ch. 2 - In Exercises 16, find the future value of the...Ch. 2 - In Exercises 16, find the future value of the...Ch. 2 - Prob. 3RECh. 2 - Prob. 4RECh. 2 - Prob. 5RECh. 2 - Prob. 6RECh. 2 - Prob. 7RECh. 2 - Prob. 8RECh. 2 - Prob. 9RECh. 2 - In Exercises 712, find the present value of the...Ch. 2 - Prob. 11RECh. 2 - Prob. 12RECh. 2 - Prob. 13RECh. 2 - Prob. 14RECh. 2 - Prob. 15RECh. 2 - Prob. 16RECh. 2 - Prob. 17RECh. 2 - Prob. 18RECh. 2 - Prob. 19RECh. 2 - Prob. 20RECh. 2 - Prob. 21RECh. 2 - Prob. 22RECh. 2 - Prob. 23RECh. 2 - Prob. 24RECh. 2 - Prob. 25RECh. 2 - Prob. 26RECh. 2 - Prob. 27RECh. 2 - Prob. 28RECh. 2 - Prob. 29RECh. 2 - Prob. 30RECh. 2 - Prob. 31RECh. 2 - Stock Investments Exercises 2934 are based on the...Ch. 2 - Prob. 33RECh. 2 - Prob. 34RECh. 2 - Revenue Total online revenues at OHaganBooks.com...Ch. 2 - Net Income Unfortunately, the picture for net...Ch. 2 - Prob. 37RECh. 2 - Prob. 38RECh. 2 - Loans OHaganBooks.com is seeking a $250,000 loan...Ch. 2 - Prob. 40RECh. 2 - Prob. 41RECh. 2 - Prob. 42RECh. 2 - Prob. 43RECh. 2 - Prob. 44RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 46RECh. 2 - Prob. 47RECh. 2 - Prob. 48RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 51RECh. 2 - Prob. 52RECh. 2 - Prob. 53RECh. 2 - Prob. 54RECh. 2 - Prob. 55RECh. 2 - Prob. 56RE
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