Essential Financial Mathematics

Essential Financial Mathematics

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This text is designed for a one-semester non-technical introduction to the mathematics of finance. Topics include: interest, inflation, retirements, annuities, mortgages, taxes, credit cards, leases, stocks and bonds, and other investments.Example 5: Bob has balance of $27, 345.41 on a credit card that has a 20% APR. He plans to transfer the entire balance to a card that offers 0% APR for 12 months with a balance transfer fee of 3%. How much will he save in one year assuming he pays the minimum payment and both cards set the minimum payment at interest plus 2% of final balance? ... Solution: We start with the first card: A B C D E F Start Minimum New 1 Month Balance Interest 2% of balance Payment Value 2 1anbsp;...

Title:Essential Financial Mathematics
Author: Joseph Previte, Robert Hoffman - 2014-03-24

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