# Mathematics of finance by Raiford Theodore

By Raiford Theodore

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Extra info for Mathematics of finance

Example text

3. <;>) 4. A fund is accumulated by making monthly payments of \$50 'each, over a period of 10 years. 04, m = 4). , 3) payments each conversion period) of 150 6^ 01 each. b. Set up and simplify the expression for the value of the annuity as originally stated. Note the results in the light of a. a. the same 5. 0(5, months in a loan company which yields the m =12). a. , payments each conversion just the same period) of 400 if he should each s^ ()rj instead of the specified semiannual payments. b.

06, m = 12). (6) Does the answer found in (a) mean that the buyer is paying more than 6%, less than 6%, or exactly 6% on his indebted- ness? Amplify your answer. Ans. 80. 6. A company pays out \$700 biennially for insurance on its trucks. now at 4% will pay for the company's insurance for years? ) 7. Besides \$250 cash, a father sets aside funds sufficient to provide his child with \$250 at the end of each quarter for the next 4 years while the child is in college. 03, the amount of the father's immediate outlay?

By interpolation is, Example 2. 32 was left with a trust company for an heir until he should become of age. 21. 04, m = 2), how long did the trust company hold the sum on deposit ? By Solution. 32= /. 21 iog(l. 21(1. 02) ~2 . 75 NOTE. is on page 6. of a. n A 26. It can be if in this solution, the method of the solution logarithmic solution requires the use of formula [17], given Although logarithms are used that of interpolation. of n obtained by interpolation is the exact value used for the fractional interest period involved.