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132_Exam01a - 5 Suppose you start a Roth IRA and deposit...

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MA132 Basic Modeling J. Robeson Exam 1 2009 September 25 Name__________________________________________ This exam covers material through section 1.3 of the text. You have 1 hour to complete all eight questions on this exam. Each problem is worth a maximum of 12 points. To receive full credit you must clearly show how you obtained your answer. Calculators are allowed, but all other electronic devices are prohibited. A formula will be provided on the board, but no other aids are allowed. Please raise your hand if you have any questions or need extra paper. Good luck. Results: #1_____ #2_____ #3_____ #4_____ #5_____ #6_____ #7_____ #8_____ Extra Credit_____ 4 Total Score______%
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1. (a) Approximately how much is your net worth in the financial simulation? (b) What are the liabilities in the financial simulation? 2. (a) Give an example of a recursively defined sequence. (b) Give an example of an explicitly defined sequence.
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3. What are the first four values of the sequence given by x n 1 0.5 x n 1 , x 1 2 ? Draw a graph of these four values. 4. What is the sequence of first differences for the sequence in problem 3?
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Unformatted text preview: 5. Suppose you start a Roth IRA and deposit $4000 at the beginning of each year. If you are able to earn 8.3% per annum, fill in what you would enter in each of the empty cells. A B C D E 1 year start balance deposit interest end balance 2 1 4000 3 2 4000 4 3 4000 6. Are each of the following stable or unstable? Why? What is the equilibrium value for the sequence in problem 6(b)? (a) a n 1 1.1 a n 3 (b) a n 1 0.5 a n 6 (c) a n 1 a n 0.6 7. Find any difference equation that has a stable equilibrium value of 8. 8. (a) Write an explicit formula for the sequence x n 1 2 x n 3, x 1 4 (b) Find x 3 using your explicit formula. Extra Credit - 1 point each 1. Approximately what is the U.S. national debt? 2. Approximately what is the current unemployment rate? 3. Who is the chair of the Federal Reserve Bank? 4. Who is the Governor of Iowa?...
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