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Unformatted text preview: This characteristic growth pattern is common to seashells, flowers, fruits, and trees, and explains why the Fibonacci sequence is often seen in nature. Chapter 10 – The Mathematics of Money This chapter will explain the mathematics behind some common financial products such as savings accounts, loans, credit cards, mortgages, and annuities. Since these concepts are often phrased in terms of percentages, it is beneficial to review this basic notion before moving on. Percentages Fact 1: In order to turn a fraction into a percentage we multiply by 100. Ex. Fact 2: In order to turn a percentage into a fraction we divide by 100. Ex. Fact 3: If you start with a quantity Q and increase it by x% then the resulting quantity is Ex. (10.A.9) Ex. (10.A.13) Fact 4: If you start with a quantity Q and decrease it by x% then the resulting quantity is Ex. (10.A.7) Ex. (10.6) Ex. (10.A.19)...
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This note was uploaded on 09/22/2011 for the course MAC 2311 taught by Professor Evinson during the Spring '08 term at University of Central Florida.
 Spring '08
 EVINSON
 Math, Calculus

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