Mathematical Ideas (13th Edition) - Standalone book
13th Edition
ISBN: 9780321977076
Author: Charles D. Miller, Vern E. Heeren, John Hornsby, Christopher Heeren
Publisher: PEARSON
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Textbook Question
Chapter 13.1, Problem 70E
Estimating Future Prices for Variable Annual Inflation Assume that prices for the items below increased at the average annual inflation rates shown in Table 4. Use the inflation proportion to find the missing prices in the last column of the chart. Round to the nearest dollar.
Item | Price | YearPurchased | Price in2013 |
Designer puppy | $250 | 1998 |
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Find the inflation rate from 1980 to 1981.Assume that all prices have risen at the same rate as the CPI.
Question content area bottom left
Part 1
The inflation rate was about___%.
(Round to one decimal place as needed.)
...
Question content area right
Part 1
Average Annual Consumer Price Index (CPI) (1982-1984=100)
Year
CPI
Year
CPI
Year
CPI
1976
56.9
1989
124.0
2001
177.1
1977
60.6
1990
130.7
2002
179.9
1978
65.2
1991
136.2
2003
184.0
1979
72.6
1992
140.3
2004
188.9
1980
82.4
1993
144.5
2005
195.3
1981
90.9
1994
148.2
2006
201.6
1982
96.5
1995
152.4
2007
207.3
1983
99.6
1996
156.9
2008
215.3
1984
103.9
1997
160.5
2009
214.5
1985
107.6
1998
163.0
2010
218.1
1986
109.6
1999
166.6
2011
224.9
1987
113.6
2000
172.2
2012
229.6
1988
118.3
Tuition and fees at public four-year and public two-year institutions from 2000-2015 are shown in the table below. Values have been adjusted to 2014 dollars to account for inflation.
Average Tuition and Fees
in 2014 Dollars
2000-01 to 2014-15
Academic Year
Public Four-Yr
Public Two-Yr
00-01
$4,837
$2,264
01-02
$5,055
$2,158
02-03
$5,421
$2,214
03-04
$6,018
$2,473
04-05
$6,448
$2,615
05-06
$6,696
$2,660
06-07
$6,795
$2,653
07-08
$7,081
$2,624
08-09
$7,148
$2,580
09-10
$7,825
$2,842
10-11
$8,337
$2,997
11-12
$8,728
$3,135
12-13
$8,991
$3,280
13-14
$9,062
$3,306
14-15
$9,139
$3,347
a. What is the absolute change in tuition and fees at public four-year institutions from 2005-06 to 2014-15?
b. Calculate the relative change in tuition and fees at public four-year institutions from 2005-06 to 2014-15. Round to the nearest whole percentage point.
c.…
20 years as two decades.
a) use the inflation rate calculator to find the inflation rate (as a percent) from 1990 to 2000, from 2000 to 2010 and from 1990 to 2010.
Chapter 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
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