examII_s97

# examII_s97 - EE 429 EXAM II 23 April 1997 Name ID DO NOT...

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Problem 1: (25 points) The repayment of a bank loan can be modeled as a discrete-time system y ( k +1)= ± 1+ I 12 ² y ( k ) - x ( k +1) where k =0 , 1 , 2 ,... is equal to the month of the repayment period, y (0) is the amount of the loan, y ( k ) is the loan balance at the end of the k th month, x ( k ) is the loan payment in the k th month, and I is the interest rate in decimal form (i.e. for 12%, I = 0.12). Assume that the monthly payments x ( k ) for k 1 are equal to a constant c . Suppose that the number of months in the repayment period is N . Derive an expression for the monthly payments c
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examII_s97 - EE 429 EXAM II 23 April 1997 Name ID DO NOT...

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