Explanation Given: Theamount of money $ B , in a bank account earning interest at a continuous rate, r depends on the amount, $ P and the time t , it has been in the bank, where B = P e r t Calculation: Given that the amount of money $ B , in a bank account earning interest at a continuous rate, r depends on the amount, $ P and the time t , it has been in the bank, where B = P e r t To find ∂ B ∂ t , differentiate B with respect to t , considering P and r as constant, we get ∂ B ∂ t = ∂ ∂ t ( P e r t ) ∂ B ∂ t = P ∂ ∂ t ( e r t ) ∂ B ∂ t = Pr e r t ∂ B ∂ t = r P e r t The rate of change of amount of money with respect to the time keeping the rate of interest and amount deposited r P e r t . The original amount will be multiplied by the rate of interest. To find ∂ B ∂ r , differentiate B with respect to r , considering P and t as constant, we get ∂ B ∂ r = ∂ ∂ r ( P e r t ) ∂ B

Applied Calculus, 6e WileyPLUS + Loose-leaf

6th Edition

ISBN: 9781119408901

Author: Deborah Hughes-Hallett, Andrew M. Gleason, Patti Frazer Lock, Daniel E. Flath

Publisher: Wiley (WileyPLUS Products)

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Chapter 8.4, Problem 24P

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To find ∂B∂t, ∂B∂r and ∂B∂P, and interpret each in financial term.

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Chapter 8.4, Problem 23P

Chapter 8.4, Problem 25P

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Applied Calculus, 6e WileyPLUS + Loose-leaf

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To find ∂ B ∂ t , ∂ B ∂ r and ∂ B ∂ P , and interpret each in financial term.

Solution Summary: The author explains how to find and interpret partial t, r and p in financial terms.

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To find ∂B∂t, ∂B∂r and ∂B∂P, and interpret each in financial term.

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Chapter 8 Solutions