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If r per annum is the rate at which the principal A is compounded annually, then at the end of k years, the money due is
Q = A (1 + r)k
Suppose compounding is done continuously. i.e. at every instant the principal A is compounded at R per annum. Then,
Q = A eRk
The relationship between R and r is given by the following reasoning:
A (1 + r)k = A eRk
Example
If R = 5.25%, then ln(1 + r) = 5.25% or r = 5.39%
Suppose Rs.100 is being compounded annually at the rate of 10% per annum. What is the future value of Rs.100 at the end of the third year? What is the effective continuously compounded rate of interest? What is the future value of Rs.100 at the end of the third year, using this interest rate?
FV(Rs.100) = 100 x (1.10)3 = 133.1
If r = 0.1, then the continuously compounded rate of interest R is given by
R = ln(1 + 0.1) = 0.0953
FV(Rs.100) = 100 e0.0953 x 3 = 100 x 1.331 = 133.1
Max goes to the gym every fourth day. Ellen's exercise routine is to go every third day. Today is Monday and both Max and Ellen are at the gym. What will the day of the week be the
128sinpower8=cos8-8cos6+28cos4-56cos2+35
need answers
Limits At Infinity, Part I : In the earlier section we saw limits which were infinity and now it's time to take a look at limits at infinity. Through limits at infinity we mean
shapes
how to do them?
0+50x1-60-60x0+10=
20348876567
On 30 June 2012 Bill purchase a home by taking out a 30 year mortgage of $600,000 at 6% interest per annum, compounded months. Repayments are made at the end of each month. (a) Cal
If 7sin 2 ?+3cos 2 ? = 4, show that tan? = 1/√3 . Ans: If 7 Sin 2 ? + 3 Cos 2 ? = 4 S.T. Tan? 1/√3 7 Sin 2 ? + 3 Cos 2 ? = 4 (Sin 2 ? + Cos 2 ?)
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