 6.2.1: Evaluate: (a) (b) Round answers to 3 decimal places. (pp. A28 to A33)
 6.2.2: Change the equation to an exponential equation: __________ (pp. A28...
 6.2.3: Change the equation to a logarithmic equation: __________ (pp. A28 ...
 6.2.4: Use the ChangeofBase Formula to evaluate __________. Round your a...
 6.2.5: True or False The more times in a year that interest is compounded,...
 6.2.6: True or False If a rate of 9% interest is compounded monthly, the e...
 6.2.7: When interest at a rate r is compounded on a principal P so that th...
 6.2.8: The principal needed now to get $1000 at a later date is called the...
 6.2.9: In 918, find the amount that results from each investment.$100 inve...
 6.2.10: In 918, find the amount that results from each investment.$50 inves...
 6.2.11: In 918, find the amount that results from each investment.. $500 in...
 6.2.12: In 918, find the amount that results from each investment.. $300 in...
 6.2.13: In 918, find the amount that results from each investment.$600 inve...
 6.2.14: In 918, find the amount that results from each investment.$700 inve...
 6.2.15: In 918, find the amount that results from each investment.$10 inves...
 6.2.16: In 918, find the amount that results from each investment.$40 inves...
 6.2.17: In 918, find the amount that results from each investment.$100 inve...
 6.2.18: In 918, find the amount that results from each investment.. $100 in...
 6.2.19: In 1928, find the principal needed now to get each amount; that is,...
 6.2.20: In 1928, find the principal needed now to get each amount; that is,...
 6.2.21: In 1928, find the principal needed now to get each amount; that is,...
 6.2.22: In 1928, find the principal needed now to get each amount; that is,...
 6.2.23: In 1928, find the principal needed now to get each amount; that is,...
 6.2.24: In 1928, find the principal needed now to get each amount; that is,...
 6.2.25: In 1928, find the principal needed now to get each amount; that is,...
 6.2.26: In 1928, find the principal needed now to get each amount; that is,...
 6.2.27: In 1928, find the principal needed now to get each amount; that is,...
 6.2.28: In 1928, find the principal needed now to get each amount; that is,...
 6.2.29: In 2932, which of the two rates would yield the larger amount in 1 ...
 6.2.30: In 2932, which of the two rates would yield the larger amount in 1 ...
 6.2.31: In 2932, which of the two rates would yield the larger amount in 1 ...
 6.2.32: In 2932, which of the two rates would yield the larger amount in 1 ...
 6.2.33: In 3336, find the effective rate of interest.For 5% compounded quar...
 6.2.34: In 3336, find the effective rate of interest.For 6% compounded monthly
 6.2.35: In 3336, find the effective rate of interest.For 5% compounded cont...
 6.2.36: In 3336, find the effective rate of interest.For 6% compounded cont...
 6.2.37: What rate of interest compounded annually is required todouble an i...
 6.2.38: . What rate of interest compounded annually is required to double a...
 6.2.39: What rate of interest compounded annually is required to triple an ...
 6.2.40: What rate of interest compounded annually is required to triple an ...
 6.2.41: (a) How long does it take for an investment to double in value if i...
 6.2.42: . (a) How long does it take for an investment to triple in value if...
 6.2.43: What rate of interest compounded quarterly will yield an effective ...
 6.2.44: What rate of interest compounded continuously will yield an effecti...
 6.2.45: If $1000 is invested at 4% compounded (a) annually (b) monthly what...
 6.2.46: If $2000 is invested at 5% compounded (a) annually (b) continuously...
 6.2.47: If $1000 is invested at 2% compounded quarterly, what is the amount...
 6.2.48: If $2000 is invested at 4% compounded quarterly, what is the amount...
 6.2.49: If a bank pays 3% compounded semiannually, how much should be depos...
 6.2.50: If a bank pays 2% compounded quarterly, how much should be deposite...
 6.2.51: Mr. Nielsen wants to borrow $1000 for 2 years. He is given the choi...
 6.2.52: What principal is needed now to get $1000 in 1 year at 3% compounde...
 6.2.53: Time Required to Reach a Goal If Tanisha has $100 to invest at 3% p...
 6.2.54: Time Required to Reach a Goal If Angela has $100 to invest at 4% pe...
 6.2.55: Time Required to Reach a Goal How many years will it take for an in...
 6.2.56: Time Required to Reach a Goal How many years will it take for an in...
 6.2.57: Price Appreciation of Homes What will a $90,000 house cost 5 years ...
 6.2.58: Credit Card Interest A department store charges 1.25% per month on ...
 6.2.59: Saving for a Car Jerome will be buying a used car for $15,000 in 3 ...
 6.2.60: Paying off a Loan John will require $3000 in 6 months to pay off a ...
 6.2.61: Return on a Stock George is contemplating the purchase of 100 share...
 6.2.62: Return on an Investment A business purchased for $650,000 in 2008 i...
 6.2.63: Comparing Savings Plans Jim places $1000 in a bank account that pay...
 6.2.64: Savings Plans On January 1, Kim places $1000 in a certificate of de...
 6.2.65: Comparing IRA Investments Will invests $2000 in his IRA in a bond t...
 6.2.66: Comparing Two Alternatives Suppose that April has access to an inve...
 6.2.67: Down Payment on a House Tami and Todd will need $40,000 for a down ...
 6.2.68: Saving for College A newborn child receives a $3000 gift toward a c...
 6.2.69: Gifting A childs grandparents have opened a $6000 savings account f...
 6.2.70: Effective Rates of Interest A bank advertises that it pays interest...
 6.2.71: Length of Investment How many years will it take for an initial inv...
 6.2.72: Length of Investment How many years will it take for an initial inv...
 6.2.73: Roth IRA Jason and his wife put $4000 into a Roth IRA that pays 4% ...
 6.2.74: Roth IRA What annual rate of interest is required for an initial in...
 6.2.75: College Savings Tom and Anita have a new baby and want to start sav...
 6.2.76: College Savings The average tuition, fees, and room and board charg...
 6.2.77: National Debt The national debt was approximately $5.77 trillion on...
 6.2.78: Cost of Energy The average U.S. household will spend $2173 on energ...
 6.2.79: Analyzing Interest Rates on a Mortgage Colleen and Bill have just p...
 6.2.80: Inflation If the inflation rate averages 2%, how much will $1000 pu...
 6.2.81: Inflation If the amount that $1000 will purchase is only $950 after...
 6.2.82: Inflation If the amount that $1000 will purchase is only $930 after...
 6.2.83: Inflation If the average inflation rate is 2%, how long is it until...
 6.2.84: Inflation If the average inflation rate is 4%, how long is it until...
 6.2.85: 8588 involve zerocoupon bonds. A zerocoupon bond is a bond that i...
 6.2.86: 8588 involve zerocoupon bonds. A zerocoupon bond is a bond that i...
 6.2.87: 8588 involve zerocoupon bonds. A zerocoupon bond is a bond that i...
 6.2.88: 8588 involve zerocoupon bonds. A zerocoupon bond is a bond that i...
 6.2.89: Time to Double or Triple an Investment The formula can be used to f...
 6.2.90: Time to Reach an Investment Goal The formula can be used to find th...
 6.2.91: Consumer Price Index (a) The CPI was 169.3 in January 2000 and 217....
 6.2.92: Consumer Price Index If the January 2010 CPI was 217.6 and the aver...
 6.2.93: Consumer Price Index If the average annual inflation rate is 2.3%, ...
 6.2.94: Consumer Price Index The base period for the CPI last changed in 19...
 6.2.95: Explain in your own words what the term compound interest means. Wh...
 6.2.96: Explain in your own words the meaning of present value.
 6.2.97: Critical Thinking You have just contracted to buy a house and will ...
Solutions for Chapter 6.2: Compound Interest
Full solutions for Finite Mathematics, Binder Ready Version: An Applied Approach  11th Edition
ISBN: 9780470876398
Solutions for Chapter 6.2: Compound Interest
Get Full SolutionsThis expansive textbook survival guide covers the following chapters and their solutions. Since 97 problems in chapter 6.2: Compound Interest have been answered, more than 16831 students have viewed full stepbystep solutions from this chapter. Finite Mathematics, Binder Ready Version: An Applied Approach was written by and is associated to the ISBN: 9780470876398. This textbook survival guide was created for the textbook: Finite Mathematics, Binder Ready Version: An Applied Approach, edition: 11. Chapter 6.2: Compound Interest includes 97 full stepbystep solutions.

Characteristic equation det(A  AI) = O.
The n roots are the eigenvalues of A.

Cofactor Cij.
Remove row i and column j; multiply the determinant by (I)i + j •

Complete solution x = x p + Xn to Ax = b.
(Particular x p) + (x n in nullspace).

Determinant IAI = det(A).
Defined by det I = 1, sign reversal for row exchange, and linearity in each row. Then IAI = 0 when A is singular. Also IABI = IAIIBI and

Diagonal matrix D.
dij = 0 if i # j. Blockdiagonal: zero outside square blocks Du.

Distributive Law
A(B + C) = AB + AC. Add then multiply, or mUltiply then add.

Factorization
A = L U. If elimination takes A to U without row exchanges, then the lower triangular L with multipliers eij (and eii = 1) brings U back to A.

Fourier matrix F.
Entries Fjk = e21Cijk/n give orthogonal columns FT F = nI. Then y = Fe is the (inverse) Discrete Fourier Transform Y j = L cke21Cijk/n.

Indefinite matrix.
A symmetric matrix with eigenvalues of both signs (+ and  ).

Iterative method.
A sequence of steps intended to approach the desired solution.

Kronecker product (tensor product) A ® B.
Blocks aij B, eigenvalues Ap(A)Aq(B).

Krylov subspace Kj(A, b).
The subspace spanned by b, Ab, ... , AjIb. Numerical methods approximate A I b by x j with residual b  Ax j in this subspace. A good basis for K j requires only multiplication by A at each step.

Left nullspace N (AT).
Nullspace of AT = "left nullspace" of A because y T A = OT.

Multiplier eij.
The pivot row j is multiplied by eij and subtracted from row i to eliminate the i, j entry: eij = (entry to eliminate) / (jth pivot).

Norm
IIA II. The ".e 2 norm" of A is the maximum ratio II Ax II/l1x II = O"max· Then II Ax II < IIAllllxll and IIABII < IIAIIIIBII and IIA + BII < IIAII + IIBII. Frobenius norm IIAII} = L La~. The.e 1 and.e oo norms are largest column and row sums of laij I.

Nullspace N (A)
= All solutions to Ax = O. Dimension n  r = (# columns)  rank.

Rank r (A)
= number of pivots = dimension of column space = dimension of row space.

Toeplitz matrix.
Constant down each diagonal = timeinvariant (shiftinvariant) filter.

Vector addition.
v + w = (VI + WI, ... , Vn + Wn ) = diagonal of parallelogram.

Volume of box.
The rows (or the columns) of A generate a box with volume I det(A) I.