Mathematical Ideas (13th Edition) - Standalone book
13th Edition
ISBN: 9780321977076
Author: Charles D. Miller, Vern E. Heeren, John Hornsby, Christopher Heeren
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 13.1, Problem 63E
(a)
To determine
To calculate: The future price of the item provided that price of the item in 2014 is
(b)
To determine
To calculate: The future price of the item provided that price of the item in 2014 is
(c)
To determine
To calculate: The future price of the item provided that price of the item in 2014 is
(d)
To determine
To calculate: The future price of the item provided that price of the item in 2014 is
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionChapter 13 Solutions
Mathematical Ideas (13th Edition) - Standalone book
Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - In the following exercises, assume whenever...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...Ch. 13.1 - Find the future value of each deposit if the...
Ch. 13.1 - Solve each interest-related problem.
11. Simple...Ch. 13.1 - Solve each interest-related problem. Simple...Ch. 13.1 - Solve each interest-related problem.
13. Simple...Ch. 13.1 - Solve each interest-related problem.
14. Simple...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - Find the missing final amount (future value)...Ch. 13.1 - For each deposit, find the future value (that is,...Ch. 13.1 - For each deposit, find the future value (that is,...Ch. 13.1 - For each deposit, find the future value (that is,...Ch. 13.1 - For each deposit, find the future value (that is,...Ch. 13.1 - Occasionally a savings account may actually pay...Ch. 13.1 - Occasionally a savings account may actually pay...Ch. 13.1 - Occasionally a savings account may actually pay...Ch. 13.1 - Solve each interest-related problem. Finding the...Ch. 13.1 - Solve each interest-related problem. Finding the...Ch. 13.1 - Solve each interest-related problem. In the...Ch. 13.1 - Find the present value for each future amount....Ch. 13.1 - Find the present value for each future amount....Ch. 13.1 - Prob. 33ECh. 13.1 - Find the present value for each future amount.
34....Ch. 13.1 - Finding the Present Value of a Compound Interest...Ch. 13.1 - Finding the Present Value of a Compound Interest...Ch. 13.1 - Finding the Present Value of a Compound Interest...Ch. 13.1 - Finding the Present Value of a Compound Interest...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Finding the Effective Annual Yield in a Savings...Ch. 13.1 - Prob. 45ECh. 13.1 - Prob. 46ECh. 13.1 - Prob. 47ECh. 13.1 - Prob. 48ECh. 13.1 - Prob. 49ECh. 13.1 - Prob. 50ECh. 13.1 - Prob. 51ECh. 13.1 - Prob. 52ECh. 13.1 - Comparing Bank Savings Rates Bank A pays a nominal...Ch. 13.1 - Prob. 54ECh. 13.1 - Prob. 55ECh. 13.1 - Prob. 56ECh. 13.1 - Prob. 57ECh. 13.1 - Estimating the Inflation Rate by the Rule of 70...Ch. 13.1 - Estimating the Inflation Rate by the Rule of 70...Ch. 13.1 - Estimating the Inflation Rate by the Rule of 70...Ch. 13.1 - Estimating the Inflation Rate by the Rule of 70...Ch. 13.1 - Prob. 62ECh. 13.1 - Prob. 63ECh. 13.1 - Prob. 64ECh. 13.1 - Estimating Future Prices for Constant Annual...Ch. 13.1 - Estimating Future Prices for Constant Annual...Ch. 13.1 - Item Price Year Purchased Price in 2013
Evening...Ch. 13.1 - Estimating Future Prices for Variable Annual...Ch. 13.1 - Estimating Future Prices for Variable Annual...Ch. 13.1 - Estimating Future Prices for Variable Annual...Ch. 13.1 - Prob. 71ECh. 13.1 - Prob. 72ECh. 13.2 - Round all monetary answers to the nearest cent...Ch. 13.2 - Round all monetary answers to the nearest cent...Ch. 13.2 - Round all monetary answers to the nearest cent...Ch. 13.2 - Round all monetary answers to the nearest cent...Ch. 13.2 - Round all monetary answers to the nearest cent...Ch. 13.2 - Financing a New Car Purchase Suppose you want to...Ch. 13.2 - Financing a New Car Purchase Suppose you want to...Ch. 13.2 - Financing a New Car Purchase Suppose you want to...Ch. 13.2 - Financing a New Car Purchase Suppose you want to...Ch. 13.2 - Financing a New Car Purchase Suppose you want to...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - In Exercises 11-16, use the add-on method of...Ch. 13.2 - Work each problem.
17. Finding the Monthly Payment...Ch. 13.2 - Work each problem. Finding the Monthly Payment for...Ch. 13.2 - Work each problem.
19. Finding the Monthly Payment...Ch. 13.2 - Work each problem.
20. Finding the Monthly Payment...Ch. 13.2 - Work each problem.
21. Finding the Amount Borrowed...Ch. 13.2 - Work each problem.
22. Finding an Add-On Interest...Ch. 13.2 - Work each problem. Finding the Term of an Add-On...Ch. 13.2 - Work each problem.
24. Finding the Number of...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges Find the finance charge...Ch. 13.2 - Finding Finance Charges and Account Balances Using...Ch. 13.2 - Finding Finance Charges and Account Balances Using...Ch. 13.2 - Finding Finance Charges and Account Balances Using...Ch. 13.2 - Finding Finance Charges and Account Balances Using...Ch. 13.2 - Finding Finance Charges In Exercises 35 and 36,...Ch. 13.2 - Prob. 36ECh. 13.2 - Prob. 37ECh. 13.2 - Prob. 38ECh. 13.2 - Prob. 39ECh. 13.2 - Prob. 40ECh. 13.2 - Prob. 41ECh. 13.2 - Prob. 42ECh. 13.2 - Prob. 43ECh. 13.2 - Write out your response to each of the...Ch. 13.2 - Prob. 45ECh. 13.2 - Prob. 46ECh. 13.2 - Prob. 47ECh. 13.2 - Recall a car-buying experience you have had, or...Ch. 13.2 - Prob. 49ECh. 13.2 - Comparing Bank Card Accounts Ruby is considering...Ch. 13.3 - Round all monetary answers to the nearest cent...Ch. 13.3 - Round all monetary answers to the nearest cent...Ch. 13.3 - Round all monetary answers to the nearest cent...Ch. 13.3 - Round all monetary answers to the nearest cent...Ch. 13.3 - Finding the Monthly PaymentFind the monthly...Ch. 13.3 - Finding the Monthly PaymentFind the monthly...Ch. 13.3 - Finding the Monthly Payment Find the monthly...Ch. 13.3 - Finding the Monthly Payment Find the monthly...Ch. 13.3 - Finding True Annual Interest Rate Find the APR...Ch. 13.3 - Finding True Annual Interest Rate Find the APR...Ch. 13.3 - Finding True Annual Interest Rate Find the APR...Ch. 13.3 - Finding True Annual Interest Rate Find the APR...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Finding Finance Charge and True Annual Interest...Ch. 13.3 - Finding Finance Charge and True Annual Interest...Ch. 13.3 - Finding Finance Charge and True Annual Interest...Ch. 13.3 - Finding Finance Charge and True Annual Interest...Ch. 13.3 - Comparing the Actuarial Method and the Rule of 78...Ch. 13.3 - Comparing the Actuarial Method and the Rule of 78...Ch. 13.3 - Comparing the Actuarial Method and the Rule of 78...Ch. 13.3 - Comparing the Actuarial Method and the Rule of 78...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Unearned Interest by the Actuarial Method Each...Ch. 13.3 - Comparing Loan Choices Phan needs to borrow $5000...Ch. 13.3 - Comparing Loan Choices Phan needs to borrow $5000...Ch. 13.3 - Comparing Loan Choices Phan needs to borrow $5000...Ch. 13.3 - Comparing Loan Choices Phan needs to borrow $5000...Ch. 13.3 - Comparing Loan Choices Phan needs to borrow $5000...Ch. 13.3 - 32.Describe why, in Example 1, the APR and the...Ch. 13.3 - Approximating the APR of an Add-On Rate To convert...Ch. 13.3 - Approximating the APR of an Add-On Rate To convert...Ch. 13.3 - The Rule of 78 with Prepayment Penalty A certain...Ch. 13.3 - The Rule of 78 with Prepayment Penalty A certain...Ch. 13.3 - The Rule of 78 with Prepayment Penalty A certain...Ch. 13.3 - The Rule of 78 with Prepayment Penalty A certain...Ch. 13.3 - Write out your response to each exercise.
39. Why...Ch. 13.3 - Prob. 40ECh. 13.3 - Prob. 41ECh. 13.3 - Write out your response to each exercise.
42....Ch. 13.3 - Write out your response to each exercise. Find the...Ch. 13.3 - Prob. 44ECh. 13.3 - Prob. 45ECh. 13.3 - Prob. 46ECh. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Monthly Payment on a Fixed-Rate Mortgage Find the...Ch. 13.4 - Amortization of a Fixed-Rate Mortgage Complete the...Ch. 13.4 - Amortization of a Fixed-Rate Mortgage Complete the...Ch. 13.4 - Mortgage: $143,200 Amortization Schedule Interest...Ch. 13.4 - Mortgage: $124,750 Amortization...Ch. 13.4 - Prob. 13ECh. 13.4 - Mortgage: $150,000 Interest rate: 4.25% Term of...Ch. 13.4 - Finding Monthly Mortgage Payments Find the total...Ch. 13.4 - Prob. 16ECh. 13.4 - Prob. 17ECh. 13.4 - Finding Monthly Mortgage Payment Find the total...Ch. 13.4 - Prob. 19ECh. 13.4 - Prob. 20ECh. 13.4 - Prob. 21ECh. 13.4 - Comparing Total Principal and Interest on a...Ch. 13.4 - Prob. 23ECh. 13.4 - Prob. 24ECh. 13.4 - Prob. 25ECh. 13.4 - Prob. 26ECh. 13.4 - Prob. 27ECh. 13.4 - Prob. 28ECh. 13.4 - Prob. 29ECh. 13.4 - Prob. 30ECh. 13.4 - Prob. 31ECh. 13.4 - Prob. 32ECh. 13.4 - Long-Term Effect of Interest Rates You may...Ch. 13.4 - Prob. 34ECh. 13.4 - Prob. 35ECh. 13.4 - Prob. 36ECh. 13.4 - The Effect of the Term on Total Amount Paid...Ch. 13.4 - The Effect of the Term on Total Amount Paid...Ch. 13.4 - Prob. 39ECh. 13.4 - Prob. 40ECh. 13.4 - Prob. 41ECh. 13.4 - Prob. 42ECh. 13.4 - Prob. 43ECh. 13.4 - The Effect of Rate Caps on Adjustable-Rate...Ch. 13.4 - Prob. 45ECh. 13.4 - Prob. 46ECh. 13.4 - Prob. 47ECh. 13.4 - Prob. 48ECh. 13.4 - Prob. 49ECh. 13.4 - Prob. 50ECh. 13.4 - Prob. 51ECh. 13.4 - Prob. 52ECh. 13.4 - Prob. 53ECh. 13.4 - Prob. 54ECh. 13.4 - Prob. 55ECh. 13.4 - Exercises 55 and 56 refer to the When Will I Ever...Ch. 13.4 - Prob. 57ECh. 13.4 - Prob. 58ECh. 13.4 - Prob. 59ECh. 13.4 - Prob. 60ECh. 13.4 - Prob. 61ECh. 13.4 - Prob. 62ECh. 13.4 - Prob. 63ECh. 13.4 - On the basis of material in this section, or your...Ch. 13.5 - Refer to the stock table (Table 14 on page 749)...Ch. 13.5 - Prob. 2ECh. 13.5 - Prob. 3ECh. 13.5 - Prob. 4ECh. 13.5 - Prob. 5ECh. 13.5 - Prob. 6ECh. 13.5 - Prob. 7ECh. 13.5 - Prob. 8ECh. 13.5 - Prob. 9ECh. 13.5 - Prob. 10ECh. 13.5 - Prob. 11ECh. 13.5 - Prob. 12ECh. 13.5 - Prob. 13ECh. 13.5 - Prob. 14ECh. 13.5 - Finding Stock Costs Find the basic cost (ignoring...Ch. 13.5 - Prob. 16ECh. 13.5 - Prob. 17ECh. 13.5 - Finding Stock Costs Find the cost, at the day's...Ch. 13.5 - Prob. 19ECh. 13.5 - Prob. 20ECh. 13.5 - Finding Stock Costs Find the cost, at the day's...Ch. 13.5 - Prob. 22ECh. 13.5 - Prob. 23ECh. 13.5 - Finding Stock Costs Find the cost, at the day's...Ch. 13.5 - Prob. 25ECh. 13.5 - Prob. 26ECh. 13.5 - Finding Receipts for Stock Sales Find the amount...Ch. 13.5 - Prob. 28ECh. 13.5 - Prob. 29ECh. 13.5 - Finding Receipts for Stock Sales Find the amount...Ch. 13.5 - Finding Receipts for Stock Sales Find the amount...Ch. 13.5 - Prob. 32ECh. 13.5 - Finding Net Results of Combined Transactions For...Ch. 13.5 - Finding Net Results of Combined Transactions For...Ch. 13.5 - Prob. 35ECh. 13.5 - Costs and Returns of Stock Investments For each of...Ch. 13.5 - Prob. 37ECh. 13.5 - Prob. 38ECh. 13.5 - Total Return on Bond Investments Find the total...Ch. 13.5 - Prob. 40ECh. 13.5 - Prob. 41ECh. 13.5 - Total Return on Bond Investments Find the total...Ch. 13.5 - Net Asset Value of a Mutual Fund For each...Ch. 13.5 - Prob. 44ECh. 13.5 - Net Asset Value of a Mutual Fund For each...Ch. 13.5 - Prob. 46ECh. 13.5 - Prob. 47ECh. 13.5 - Finding Monthly and Annual Investment Returns For...Ch. 13.5 - Prob. 49ECh. 13.5 - Prob. 50ECh. 13.5 - Effective Annual Rate of Return of Mutual Fund...Ch. 13.5 - Prob. 52ECh. 13.5 - Prob. 53ECh. 13.5 - Effective Annual Rate of Return of Mutual Fund...Ch. 13.5 - Prob. 55ECh. 13.5 - Prob. 56ECh. 13.5 - Inflation-Adjusted Retirement Accounts Find the...Ch. 13.5 - Prob. 58ECh. 13.5 - Prob. 59ECh. 13.5 - The Effect of Tax Deferral on Retirement Accounts...Ch. 13.5 - Prob. 61ECh. 13.5 - Prob. 62ECh. 13.5 - Prob. 63ECh. 13.5 - Prob. 64ECh. 13.5 - Prob. 65ECh. 13.5 - Prob. 66ECh. 13.5 - Prob. 67ECh. 13.5 - Solve each problem. Comparing Continuous with...Ch. 13.5 - Prob. 69ECh. 13.5 - Prob. 70ECh. 13.5 - Spreading Mutual Fund Investments among Asset...Ch. 13.5 - Prob. 72ECh. 13.5 - Prob. 73ECh. 13.5 - Prob. 74ECh. 13.5 - Prob. 75ECh. 13.5 - Prob. 76ECh. 13.5 - Prob. 77ECh. 13.5 - Prob. 78ECh. 13.5 - Prob. 79ECh. 13.5 - Write responses to Exercises 77-84. Some research...Ch. 13.5 - Prob. 81ECh. 13.5 - Prob. 82ECh. 13.5 - Write responses to Exercises 77-84. Some research...Ch. 13.5 - Prob. 84ECh. 13 - Find all monetary answers to the nearest cent. Use...Ch. 13 - Find all monetary answers to the nearest cent. Use...Ch. 13 - Solve each problem.
3. Effective Annual Yield of...Ch. 13 - Solve each problem. Years to Double by the Rule of...Ch. 13 - Solve each problem. Finding the Present Value of a...Ch. 13 - solve each prooiem.
6. Finding Bank Card Interest...Ch. 13 - Analyzing a Consumer Loan Julio buys a koi fish...Ch. 13 - Analyzing a Consumer Loan Julio buys a koi fish...Ch. 13 - Analyzing a Consumer LoanJulio buys a koi fish...Ch. 13 - Analyzing a Consumer Loan Julio buys a koi fish...Ch. 13 - Prob. 11TCh. 13 - 12. Explain what a mutual fund is, and discuss...Ch. 13 - Prob. 13TCh. 13 - Finding the Monthly Payment on a Home Mortgage...Ch. 13 - Solve each problem. Cost of Points in a Home Loan...Ch. 13 - Prob. 16TCh. 13 - Prob. 17TCh. 13 - Prob. 18TCh. 13 - Prob. 19TCh. 13 - Prob. 20TCh. 13 - Prob. 21TCh. 13 - Prob. 22T
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- Your Childs Education You want to begin making regular deposits to finance your childs college education 18 years 216 months in the future. You are able to invest 200 at the end of each month, and you judge that 100, 000 will be needed. That is, you want the future value F of the investment to be 100, 000. Whether you can attain that goal depends on interest rates. If the monthaly interest rate is r as a decimal, then the future value of the investment is given by F=200r1+r216-1 dollars. a. Plot the graph of F along with the target value of 100, 000. Use a horizontal span of 0 to 0.01. b. Fina the monthly rate r that will yield the dsired future value of 100, 000. Round your answer as a percentage to one decimal place. c. What is your total investment in your childs education?arrow_forwardFuture Value Business and finance texts refer to the value of an investment at a future time as its future value. If an investment of P dollars is compounded yearly at an interest rate of r as a decimal, then the value of the investment after t years is given by FutureValue=P1+rt. In this formula, 1+rt is known as the future value interest factor, so the formula above can be written as FutureValue=PFuturevalueinterestfactor Financial officers normally calculate this or look it up in a table a. What future value interest factor will make an investment double? b. Say you have an investment that is compounded yearly at a rate of 9%. Find the future value interest factor for a 7-year investment. c. Use the results from part b to calculate the 7-year future value if your initial investment is 5000.arrow_forwardAPR and EAR Recall that the APR the annual percentage rate is the percentage rate on a loan that the Truth in Lending Act requires lending institutions to report on loan agreements. It does not tell directly what the interest rate really is. If you borrow money for 1 year and make no payments, then in order to calculate how much you owe at the end of the year, you must use another interest rate, the EAR the effective annual rate, which is not normally reported on loan agreements. The calculation is made by adding the interest indicated by the EAR to the amount borrowed. The relationship between the APR and the EAR depends on how often interest is compounded. If you borrow money at an annual percentage rate APR as a decimal, and if interest is compounded n times per year, then the effective annual rate EAR as a decimal is given by EAR=(1+APRn)n1. For the remainder of this problem, we will assume an APR of 10 thus, in the formula above, we would use 0.1 in place of APR. a. Would you expect a larger or a smaller EAR if interest is compounded more often? Explain your reasoning. b. Make a table that shows how the EAR depends on the number of compounding periods. Use your table to report the EAR if interest is compounded once each year, monthly, and daily. note: The formula will given the EAR as a decimal. You should report your answer as a percent with three decimal places. c. If you borrow 5000 and make no payments for 1 year, how much will you owe at the end of a year if interest is compounded monthly? If interest is compounded daily? d. If interest is compounded as often as possiblethat is, continuouslythen the relationship between APR and EAR is given by EAR=eAPR1. Again using an APR of 10, compare the EAR when the interest is compounded monthly with the EAR when the interest is compounded continuously.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage LearningCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
- College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Implicit Differentiation with Transcendental Functions; Author: Mathispower4u;https://www.youtube.com/watch?v=16WoO59R88w;License: Standard YouTube License, CC-BY
How to determine the difference between an algebraic and transcendental expression; Author: Study Force;https://www.youtube.com/watch?v=xRht10w7ZOE;License: Standard YouTube License, CC-BY