{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Applied Finite Mathematics HW Solutions 97

# Applied Finite Mathematics HW Solutions 97 - EXERCISES 5.3...

This preview shows page 1. Sign up to view the full content.

This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: EXERCISES 5.3 95 22. With P = 300, 1;: 7, m =4, and A“ = 4000, fornmla 5.4 gives .7 1'1 . 300[(1+—-—) — J _ 100 4 407 _ 4000(7) _ 4000_~———m—-~—7/400 =1- 300K4—00) 11— 400 _70. Thus, 407 n 70 7 407 37 (m) "17370-5 =" (5)” 73—0-1233 A calculator shows that 12 13 (%) =1.231 and (%) =1.253. The annuity will have at least \$4000 after the 13th deposit. This is June 1, 2007. 23. With P = 500, 71:: 5,711. = 12, and A,1 = 10 000, formula 5.4 gives ' n 500 (1+ ) —1] _ -_ 100-12 241 _10000(5) 125 10000_ =- 500[(— ) —1]_ 1200 3. 5/1200 240 3 Thus, ' 241 “ 125 1 241 13 (m) ‘1“3‘5—mﬂ—2 =’" (EY “54°83 A calculator shows that 19 20 (g) -1082 .11 (22,3) 41.087. The annuity will have at least \$10,000 after the 20th deposit. This is December 1, 2005. 24. With P = 100, 1' = 3, m = 12, and A,1 = 10 000, formula 5.4 gives 3 n 100[(1+ ) -1] . 0(3 10000=__100_13_ =1. 100K411) —1]=10—9{)——( )— =.25 3/1200 400 1200 Thus, _ 401 “ 25 1 401 ”#5 (as) "1—1001 ='" (470) ‘1‘1'25' A calculator shoe/5 that 89 90 (2%) - = 1.249 and (ﬁg—é) = 1.252. _ _The annuity will have at least \$10,000 after the £30th deposit. 25. With P = 2000, 7; = 6, m = 2, and n. = 20, the value of the annuity immediately after payment number 20 is . 6 20 2000 [(1 + 100-2) — ] 6/200 To ﬁnd the value of this annuity 4 months later, we use formula 5.2 with P = 53, 740.75, 0: 6,711: 12, andn=4, A20 = = 53, 740.75. ..-I_ _ ____=_L. |_...|_..u... n..:.......:+.. Aprlnnhnlm umbdm I'q‘anl-mrrnmvﬁlr‘lfnn in heart or in ﬁn". is stricthvnrol'llbi'led. ...
View Full Document

{[ snackBarMessage ]}