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Math-of-finance-filled - Math 2303 Math of Finance Using...

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Math 2303 Math of Finance Using your calculator with more complex formulas First, you must have a scientific calculator. A four-function calculator will not be sufficient for some of the problems we will work. Also, no graphing calculators will be allowed on the test. There are two basic formulas of calculators. With one of them, you put in the function first, and then the number. With the other, you put in the number and then the function. You need to know which type of calculator you have. Try both of these: 25 = If this one gave you 5, you have a “function first” calculator. 25 = If this one gave you 5, you have a “number first” calculator. Now for some practice: Example 1: Evaluate ( 29 1 4 2 5 3 - BTW – is this rational or irrational??
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Example 2: Evaluate: ( 29 12 7 2 3 10 3 1 (3 5 ) 2 6 5 - - - - Now for the formulas: Simple interest: this formula gives the amount of interest earned on a principal amount P that is invested at interest rate r for t years. Example 3: Find the simple interest earned on $2500 invested at 3.5% interest for 2 years.
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Example 4: Same situation, but suppose the money is only invested for six months. The accumulated amount formula gives you the total amount in the account after interest has been added. The total will include the amount you put in AND the amount the bank put in as interest.
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