Finite Mathematics
Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
bartleby

Concept explainers

Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…
bartleby

Videos

Textbook Question
Book Icon
Chapter 2.3, Problem 10E

In Exercises 7–12, find the periodic payments necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits.) [hinT: See Quick Example 2.]

$100,000 in a fund paying 7% per year, with quarterly payments for 20 years

Expert Solution & Answer
Check Mark

Want to see the full answer?

Check out a sample textbook solution
Blurred answer
Previous
Chapter 2.3, Problem 9E
Next
Chapter 2.3, Problem 11E
Students have asked these similar questions
Section 3.3 (55) Your pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). You can afford to put$1,200  per quarter into the fund, and you will work for  40 years before retiring. After you retire, you will be paid a quarterly pension based on a 25-year payout. How much will you receive each quarter?
Compute the simple interest INT for the specified length of time and the future value FV at the end of that time. Round all answers to the nearest cent. HINT [See Quick Examples 1–5.] $17,800 is invested for 6 months at 6% per year. INT  =  $  FV  =  $
Determine the periodic payments PMT on the given loan or mortgage. (Round your answer to the nearest cent.) $800,000 borrowed at 4% for 8 years, with quarterly payments PMT = $ 9) The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.)

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
Knowledge Booster
Background pattern image
Math
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Text book image
Discrete Mathematics and Its Applications ( 8th I...
Math
ISBN:9781259676512
Author:Kenneth H Rosen
Publisher:McGraw-Hill Education
Text book image
Mathematics for Elementary Teachers with Activiti...
Math
ISBN:9780134392790
Author:Beckmann, Sybilla
Publisher:PEARSON
Text book image
Calculus Volume 1
Math
ISBN:9781938168024
Author:Strang, Gilbert
Publisher:OpenStax College
Text book image
Thinking Mathematically (7th Edition)
Math
ISBN:9780134683713
Author:Robert F. Blitzer
Publisher:PEARSON
Text book image
Discrete Mathematics With Applications
Math
ISBN:9781337694193
Author:EPP, Susanna S.
Publisher:Cengage Learning,
Text book image
Pathways To Math Literacy (looseleaf)
Math
ISBN:9781259985607
Author:David Sobecki Professor, Brian A. Mercer
Publisher:McGraw-Hill Education
SEE MORE TEXTBOOKS
Use of ALGEBRA in REAL LIFE; Author: Fast and Easy Maths !;https://www.youtube.com/watch?v=9_PbWFpvkDc;License: Standard YouTube License, CC-BY
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY