![Finite Mathematics](https://www.bartleby.com/isbn_cover_images/9781337280426/9781337280426_largeCoverImage.gif)
Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 2.3, Problem 18E
To determine
To calculate: The present value of the annuity account necessary to fund $1,000 per quarter for 15 years, if the account earns 5% per year, if there is to be $20,000 left in the account after 15 years.
Expert Solution & Answer
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Students have asked these similar questions
8 (Correlation and Diversification)
Assume we have two stocks, A and B, show that a particular combination
of the two stocks produce a risk-free portfolio when the correlation between
the return of A and B is -1.
9 (Portfolio allocation)
Suppose R₁ and R2 are returns of 2 assets and with expected return and
variance respectively r₁ and 72 and variance-covariance σ2, 0%½ and σ12. Find
−∞ ≤ w ≤ ∞ such that the portfolio wR₁ + (1 - w) R₂ has the smallest
risk.
7 (Multivariate random variable)
Suppose X, €1, €2, €3 are IID N(0, 1) and
Y2
Y₁ = 0.2 0.8X + €1, Y₂ = 0.3 +0.7X+ €2, Y3 = 0.2 + 0.9X + €3.
=
(In models like this, X is called the common factors of Y₁, Y₂, Y3.)
Y = (Y1, Y2, Y3).
(a) Find E(Y) and cov(Y).
(b) What can you observe from cov(Y).
Write
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
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
- 1 (VaR and ES) Suppose X ~ f(x) with 1+x, if 0> x > −1 f(x) = 1−x if 1 x > 0 Find VaRo.05 (X) and ES0.05 (X).arrow_forward(^) k Recall that for numbers 0 ≤ k ≤ n the binomial coefficient (^) is defined as n! k! (n−k)! Question 1. (1) Prove the following identity: (22) + (1121) = (n+1). (2) Use the identity above to prove the binomial theorem by induction. That is, prove that for any a, b = R, n (a + b)" = Σ (^) an- n-kyk. k=0 n Recall that Σ0 x is short hand notation for the expression x0+x1+ +xn- (3) Fix x = R, x > 0. Prove Bernoulli's inequality: (1+x)" ≥1+nx, by using the binomial theorem. - Question 2. Prove that ||x| - |y|| ≤ |x − y| for any real numbers x, y. Question 3. Assume (In) nEN is a sequence which is unbounded above. That is, the set {xn|nЄN} is unbounded above. Prove that there are natural numbers N] k for all k Є N. be natural numbers (nk Є N). Prove thatarrow_forwardQuestion content area top Part 1 Find the measure of ABC for the congruent triangles ABC and Upper A prime Upper B prime Upper C primeA′B′C′. 79 degrees79° 1533 2930 Part 1 m ABCequals=enter your response heredegreesarrow_forward
- Joy is making Christmas gifts. She has 6 1/12 feet of yarn and will need 4 1/4 to complete our project. How much yarn will she have left over compute this solution in two different ways arrow_forwardSolve for X. Explain each step. 2^2x • 2^-4=8arrow_forwardFind the range and all the answers. Remark that the range isn’t between -(pi/2) and (pi/2)arrow_forward
- One hundred people were surveyed, and one question pertained to their educational background. The results of this question and their genders are given in the following table. Female (F) Male (F′) Total College degree (D) 30 20 50 No college degree (D′) 30 20 50 Total 60 40 100 If a person is selected at random from those surveyed, find the probability of each of the following events.1. The person is female or has a college degree. Answer: equation editor Equation Editor 2. The person is male or does not have a college degree. Answer: equation editor Equation Editor 3. The person is female or does not have a college degree.arrow_forwardPlease draw a detailed grapharrow_forwardFor allarrow_forward
- not use ai pleasearrow_forward3) Let G be the group generated by elements a and b satisfying the relations a² = 63, 66 = 1, and a ¹ba = b¹. Which of the following is equivalent to the element z = a a-2ba3b3? A) b-2a-1 B) ab² C) ab D) ba E) b²aarrow_forward1) Find all complex solutions to cos(z) =arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337282291/9781337282291_smallCoverImage.gif)
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
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