 6.7.1: What is the interest due if $500 is borrowed for 6 months at a simp...
 6.7.2: If you borrow $5000 and, after 9 months, pay off the loan in the am...
 6.7.3: The total amount borrowed (whether by an individual from a bank in ...
 6.7.4: If a principal of P dollars is borrowed for a period of t years at ...
 6.7.5: In working problems involving interest, if the payment period of th...
 6.7.6: The is the equivalent annual simple interest rate that would yield ...
 6.7.7: In 714, find the amount that results from each investment. $100 inv...
 6.7.8: In 714, find the amount that results from each investment. $50 inve...
 6.7.9: In 714, find the amount that results from each investment. $500 inv...
 6.7.10: In 714, find the amount that results from each investment. $300 inv...
 6.7.11: In 714, find the amount that results from each investment. $600 inv...
 6.7.12: In 714, find the amount that results from each investment. $700 inv...
 6.7.13: In 714, find the amount that results from each investment. $1000 in...
 6.7.14: In 714, find the amount that results from each investment. $400 inv...
 6.7.15: In 1522, find the principal needed now to get each amount; that is,...
 6.7.16: In 1522, find the principal needed now to get each amount; that is,...
 6.7.17: In 1522, find the principal needed now to get each amount; that is,...
 6.7.18: In 1522, find the principal needed now to get each amount; that is,...
 6.7.19: In 1522, find the principal needed now to get each amount; that is,...
 6.7.20: In 1522, find the principal needed now to get each amount; that is,...
 6.7.21: In 1522, find the principal needed now to get each amount; that is,...
 6.7.22: In 1522, find the principal needed now to get each amount; that is,...
 6.7.23: In 2326, find the effective rate of interest. For 5% compounded qua...
 6.7.24: In 2326, find the effective rate of interest. For 6% compounded mon...
 6.7.25: In 2326, find the effective rate of interest. For 5% compounded con...
 6.7.26: In 2326, find the effective rate of interest. For 6% compounded con...
 6.7.27: In 2730, determine the rate that represents the better deal. 6% com...
 6.7.28: In 2730, determine the rate that represents the better deal. 9% com...
 6.7.29: In 2730, determine the rate that represents the better deal. 9% com...
 6.7.30: In 2730, determine the rate that represents the better deal. 8% com...
 6.7.31: What rate of interest compounded annually is required to double an ...
 6.7.32: What rate of interest compounded annually is required to double an ...
 6.7.33: What rate of interest compounded annually is required to triple an ...
 6.7.34: What rate of interest compounded annually is required to triple an ...
 6.7.35: (a) How long does it take for an investment to double in value if i...
 6.7.36: (a) How long does it take for an investment to triple in value if i...
 6.7.37: What rate of interest compounded quarterly will yield an effective ...
 6.7.38: What rate of interest compounded continuously will yield an effecti...
 6.7.39: Time Required to Reach a Goal If Tanisha has $100 to invest at 8% p...
 6.7.40: Time Required to Reach a Goal If Angela has $100 to invest at 10% p...
 6.7.41: Time Required to Reach a Goal How many years will it take for an in...
 6.7.42: Time Required to Reach a Goal How many years will it take for an in...
 6.7.43: Price Appreciation of Homes What will a $90,000 condominium cost 5 ...
 6.7.44: Credit Card Interest A department store charges 1.25% per month on ...
 6.7.45: Saving for a Car Jerome will be buying a used car for $15,000 in 3 ...
 6.7.46: Paying off a Loan John requires $3000 in 6 months to pay off a loan...
 6.7.47: Return on a Stock George contemplates the purchase of 100 shares of...
 6.7.48: Return on an Investment A business purchased for $650,000 in 2005 i...
 6.7.49: Comparing Savings Plans Jim places $1000 in a bank account that pay...
 6.7.50: Savings Plans On January 1, Kim places $1000 in a certificate of de...
 6.7.51: Comparing IRA Investments Will invests $2000 in his IRA in a bond t...
 6.7.52: Comparing Two Alternatives Suppose that April has access to an inve...
 6.7.53: College Costs The average annual cost of college at 4year private ...
 6.7.54: Analyzing Interest Rates on a Mortgage Colleen and Bill have just p...
 6.7.55: 2009 Federal Stimulus Package In February 2009, President Obama sig...
 6.7.56: Per Capita Federal Debt In 2008, the federal debt was about $10 tri...
 6.7.57: 5762 require the following discussion. Inflation is a term used to ...
 6.7.58: 5762 require the following discussion. Inflation is a term used to ...
 6.7.59: 5762 require the following discussion. Inflation is a term used to ...
 6.7.60: 5762 require the following discussion. Inflation is a term used to ...
 6.7.61: 5762 require the following discussion. Inflation is a term used to ...
 6.7.62: 5762 require the following discussion. Inflation is a term used to ...
 6.7.63: 6366 involve zerocoupon bonds.A zerocoupon bond is a bond that is...
 6.7.64: 6366 involve zerocoupon bonds.A zerocoupon bond is a bond that is...
 6.7.65: 6366 involve zerocoupon bonds.A zerocoupon bond is a bond that is...
 6.7.66: 6366 involve zerocoupon bonds.A zerocoupon bond is a bond that is...
 6.7.67: Time to Double or Triple an Investment The formula can be used to f...
 6.7.68: Time to Reach an Investment Goal The formula can be used to find th...
 6.7.69: 6972 require the following discussion. The Consumer Price Index (CP...
 6.7.70: 6972 require the following discussion. The Consumer Price Index (CP...
 6.7.71: 6972 require the following discussion. The Consumer Price Index (CP...
 6.7.72: 6972 require the following discussion. The Consumer Price Index (CP...
 6.7.73: Explain in your own words what the term compound interest means. Wh...
 6.7.74: Explain in your own words the meaning of present value.
 6.7.75: Critical Thinking You have just contracted to buy a house and will ...
Solutions for Chapter 6.7: Financial Models
Full solutions for College Algebra  9th Edition
ISBN: 9780321716811
Solutions for Chapter 6.7: Financial Models
Get Full SolutionsCollege Algebra was written by and is associated to the ISBN: 9780321716811. Chapter 6.7: Financial Models includes 75 full stepbystep solutions. This textbook survival guide was created for the textbook: College Algebra, edition: 9. This expansive textbook survival guide covers the following chapters and their solutions. Since 75 problems in chapter 6.7: Financial Models have been answered, more than 36856 students have viewed full stepbystep solutions from this chapter.

Adjacency matrix of a graph.
Square matrix with aij = 1 when there is an edge from node i to node j; otherwise aij = O. A = AT when edges go both ways (undirected). Adjacency matrix of a graph. Square matrix with aij = 1 when there is an edge from node i to node j; otherwise aij = O. A = AT when edges go both ways (undirected).

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

Dot product = Inner product x T y = XI Y 1 + ... + Xn Yn.
Complex dot product is x T Y . Perpendicular vectors have x T y = O. (AB)ij = (row i of A)T(column j of B).

Echelon matrix U.
The first nonzero entry (the pivot) in each row comes in a later column than the pivot in the previous row. All zero rows come last.

Elimination matrix = Elementary matrix Eij.
The identity matrix with an extra eij in the i, j entry (i # j). Then Eij A subtracts eij times row j of A from row i.

Exponential eAt = I + At + (At)2 12! + ...
has derivative AeAt; eAt u(O) solves u' = Au.

Full column rank r = n.
Independent columns, N(A) = {O}, no free variables.

lAII = l/lAI and IATI = IAI.
The big formula for det(A) has a sum of n! terms, the cofactor formula uses determinants of size n  1, volume of box = I det( A) I.

Markov matrix M.
All mij > 0 and each column sum is 1. Largest eigenvalue A = 1. If mij > 0, the columns of Mk approach the steady state eigenvector M s = s > O.

Multiplication Ax
= Xl (column 1) + ... + xn(column n) = combination of columns.

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).

Normal matrix.
If N NT = NT N, then N has orthonormal (complex) eigenvectors.

Orthogonal matrix Q.
Square matrix with orthonormal columns, so QT = Ql. Preserves length and angles, IIQxll = IIxll and (QX)T(Qy) = xTy. AlllAI = 1, with orthogonal eigenvectors. Examples: Rotation, reflection, permutation.

Pascal matrix
Ps = pascal(n) = the symmetric matrix with binomial entries (i1~;2). Ps = PL Pu all contain Pascal's triangle with det = 1 (see Pascal in the index).

Row picture of Ax = b.
Each equation gives a plane in Rn; the planes intersect at x.

Row space C (AT) = all combinations of rows of A.
Column vectors by convention.

Schur complement S, D  C A } B.
Appears in block elimination on [~ g ].

Simplex method for linear programming.
The minimum cost vector x * is found by moving from comer to lower cost comer along the edges of the feasible set (where the constraints Ax = b and x > 0 are satisfied). Minimum cost at a comer!

Special solutions to As = O.
One free variable is Si = 1, other free variables = o.

Vector v in Rn.
Sequence of n real numbers v = (VI, ... , Vn) = point in Rn.