By David Lovelock, Marilou Mendel, A. Larry Wright
This is often an undergraduate textbook at the easy features of non-public discounts and making an investment with a balanced mixture of mathematical rigor and monetary instinct. It makes use of regimen monetary calculations because the motivation and foundation for instruments of undemanding genuine research instead of taking the latter as given. Proofs utilizing induction, recurrence kin and proofs by way of contradiction are coated. Inequalities reminiscent of the Arithmetic-Geometric suggest Inequality and the Cauchy-Schwarz Inequality are used. uncomplicated themes in chance and statistics are offered. the scholar is brought to parts of saving and making an investment which are of life-long useful use. those comprise discounts and checking money owed, certificate of deposit, scholar loans, charge cards, mortgages, trading bonds, and purchasing and promoting stocks.
The booklet is self contained and obtainable. The authors keep on with a scientific development for every bankruptcy together with quite a few examples and workouts making sure that the coed offers with realities, instead of theoretical idealizations. it really is appropriate for classes in arithmetic, making an investment, banking, monetary engineering, and comparable themes.
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Additional info for An Introduction to the Mathematics of Money: Saving and Investing
6) on p. 30 in the form (1 + i)13 − 16(1 + i) + 15 = 0. (a) Find three solutions of this equation by graphing the function f (x) = x13 − 16x + 15. (b) Find three solutions of this equation using the bisection method. (c) Find three solutions of this equation using Newton’s Method. (d) Show that one solution of this equation is i = 0. 5) on p. 29. 21. What are the interest rates compounded (a) monthly, (b) semi-annually, and (c) annually that yield the same return as an investment earning 6% interest compounded continuously?
What is meant by the expression “the purchasing power of money”? How is it calculated? What is the real rate of interest? What is the Consumer Price Index? What is the after-tax rate of interest? 4 Annuities An annuity is a constant amount of money paid at regular intervals, called periods. When the payments are made at the end of the period, the annuity is called an ordinary annuity. When payments are made at the beginning of the period, the annuity is called an annuity due. Annuities occur in a variety of diﬀerent settings.
What is deflation? What is meant by the expression “the purchasing power of money”? How is it calculated? What is the real rate of interest? What is the Consumer Price Index? What is the after-tax rate of interest? 4 Annuities An annuity is a constant amount of money paid at regular intervals, called periods. When the payments are made at the end of the period, the annuity is called an ordinary annuity. When payments are made at the beginning of the period, the annuity is called an annuity due.
An Introduction to the Mathematics of Money: Saving and Investing by David Lovelock, Marilou Mendel, A. Larry Wright