Finite Mathematics
7th Edition
ISBN: 9781337280426
Author: Stefan Waner, Steven Costenoble
Publisher: Cengage Learning
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Textbook Question
Chapter 2.1, Problem 42E
Stock Investments Exercises 37–42 are based on the following chart, which shows monthly figures for Apple stock in 2010:4
Marked are the following points on the chart:
| Jan. 10 | Feb. 110 | Mar. 10 | Apr. 10 | May 10 | June 10 |
| 211.98 | 195.46 | 218.95 | 235.97 | 235.86 | 255.96 |
| July 10 | Aug. 10 | Sep. 10 | Oct. 10 | Nov. 10 | Dec. 10 |
| 246,94 | 260.09 | 258.77 | 294.07 | 317.13 | 317.44 |
If Apple’s stock had undergone simple interest change from April to June at the same simple rate as from March to April, what would the price have been in June?
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The table below shows the year open and year closing price of the S&P 500 Stock Index from 2005 to 2020:
Year
Year Open
Year Close
Annual Percent Change
2005
$ 1,202.08
$ 1,248.29
2006
$ 1,268.08
$ 1,418.30
2007
$ 1,416.60
$ 1,468.36
2008
$ 1,447.16
$ 903.25
2009
$ 931.80
$ 1,115.10
2010
$ 1,132.99
$ 1,257.64
2011
$ 1,271.87
$ 1,257.60
2012
$ 1,277.06
$ 1,426.19
2013
$ 1,462.42
$ 1,848.36
2014
$ 1,831.98
$ 2,058.90
2015
$ 2,058.20
$ 2,043.94
2016
$ 2,012.66
$ 2,238.83
2017
$ 2,257.83
$ 2,673.61
2018
$ 2,695.81
$ 2,506.85
2019
$ 2,510.03
$ 3,230.78
2020
$ 3,257.85
$ 3,756.07
Find the annual percent change for the S&P 500 from 2005 to 2020;
(Put those values in the table above)
Compute the mean,…
Monthly Sales
6267.19
7058.06
7119.5
7147.18
7198.52
7298.09
7325.7
7335.68
7355.97
7481.05
7490.23
7530.08
7616.09
7682.69
7684.14
7704.12
7704.98
7779.28
7798.23
7815.15
7844.16
7890.21
7977.6
7993.16
8021.03
8028.37
8068.86
8082.42
8096.17
8119.25
8129.21
8190.68
8255.28
8282.44
8376.31
8392.4
8400.95
8451.16
8456.66
8505.35
8539.25
8543.65
8573.05
8641.78
8667.48
8751.08
8777.97
8800.08
8888.65
8907.03
9096.87
9241.74
9411.68
9450.73
9484.62
9514.57
9521.4
9524.91
9733.44
10123.24
Given the company’s performance record and based on the empirical rule of normal distribution (also known as the 68%-95%-99.7% rule), what would be the lower bound of the range of sales values that contains 68% of the monthly sales? What would be the upper bound of the range of sales values that contains 68% of the monthly sales?
Monthly Sales
6267.19
7058.06
7119.5
7147.18
7198.52
7298.09
7325.7
7335.68
7355.97
7481.05
7490.23
7530.08
7616.09
7682.69
7684.14
7704.12
7704.98
7779.28
7798.23
7815.15
7844.16
7890.21
7977.6
7993.16
8021.03
8028.37
8068.86
8082.42
8096.17
8119.25
8129.21
8190.68
8255.28
8282.44
8376.31
8392.4
8400.95
8451.16
8456.66
8505.35
8539.25
8543.65
8573.05
8641.78
8667.48
8751.08
8777.97
8800.08
8888.65
8907.03
9096.87
9241.74
9411.68
9450.73
9484.62
9514.57
9521.4
9524.91
9733.44
10123.24
If you view the company’s performance record as a representative sample of its overall sales performance, and considering what you know about normal distribution, what is the dollar value for the lowest 25th percentile?
Chapter 2 Solutions
Finite Mathematics
Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...Ch. 2.1 - In Exercises 110, compute the simple interest for...
Ch. 2.1 - Prob. 11ECh. 2.1 - Prob. 12ECh. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - In Exercises 1116, find the present value of the...Ch. 2.1 - Prob. 16ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Exercises 2328 are based on the following table,...Ch. 2.1 - Prob. 29ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Prob. 33ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Prob. 35ECh. 2.1 - In Exercises 1736, compute the specified quantity....Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Stock Investments Exercises 3742 are based on the...Ch. 2.1 - Prob. 43ECh. 2.1 - Prob. 44ECh. 2.1 - Prob. 45ECh. 2.1 - Prob. 46ECh. 2.1 - Prob. 47ECh. 2.1 - Prob. 48ECh. 2.1 - Prob. 49ECh. 2.1 - Prob. 50ECh. 2.1 - Treasury Bills At auction on August 18, 2005,...Ch. 2.1 - Treasury Bills At auction on August 18, 2005,...Ch. 2.1 - Prob. 53ECh. 2.1 - In the formula FV=PV(1+in), how is the slope of...Ch. 2.1 - Given that FV=0.5n+1,000, for what monthly...Ch. 2.1 - Given that FV=5t+400, for what annual interest...Ch. 2.1 - We said that the choice of which of the two...Ch. 2.1 - Refer to Exercise 57. Show that using the formula...Ch. 2.1 - Prob. 59ECh. 2.1 - Prob. 60ECh. 2.1 - Prob. 61ECh. 2.1 - Prob. 62ECh. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - Prob. 4ECh. 2.2 - Prob. 5ECh. 2.2 - Prob. 6ECh. 2.2 - Prob. 7ECh. 2.2 - Prob. 8ECh. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 110, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1116, calculate, to the nearest cent,...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - In Exercises 1722, find the effective annual...Ch. 2.2 - Savings You deposit $1,000 in an account at the...Ch. 2.2 - Investments You invest $10,000 in Rapid Growth...Ch. 2.2 - Depreciation: 2008 Financial Crisis During 2008...Ch. 2.2 - Depreciation: 2008 Financial Crisis During 2008...Ch. 2.2 - Bonds You want to buy a 10-year bond with a...Ch. 2.2 - Bonds You want to buy a 15-year bond with a...Ch. 2.2 - Investments When I was considering what to do with...Ch. 2.2 - Investments When I was considering what to do with...Ch. 2.2 - Depreciation During a prolonged recession,...Ch. 2.2 - Prob. 32ECh. 2.2 - Prob. 33ECh. 2.2 - Prob. 34ECh. 2.2 - Prob. 35ECh. 2.2 - Sales My recent marketing idea, the Miracle Algae...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Exercises 3742 are based on the following table,...Ch. 2.2 - Retirement Planning I want to be earning an annual...Ch. 2.2 - Prob. 44ECh. 2.2 - Inflation Inflation has been running 2% per year....Ch. 2.2 - Prob. 46ECh. 2.2 - Inflation Housing prices have been rising 6% per...Ch. 2.2 - Prob. 48ECh. 2.2 - Constant Dollars Inflation is running 3% per year...Ch. 2.2 - Prob. 50ECh. 2.2 - Prob. 51ECh. 2.2 - Investments You are offered three investments. The...Ch. 2.2 - History Legend has it that a band of Lenape...Ch. 2.2 - History Repeat Exercise 53, assuming that the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - Inflation Exercises 5562 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - Prob. 65ECh. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - tock Investments Exercises 6368 are based on the...Ch. 2.2 - Prob. 69ECh. 2.2 - Investments Determine when, to the nearest year,...Ch. 2.2 - Epidemics At the start of 1985 the incidence of...Ch. 2.2 - Depreciation My investment in Genetic Splicing,...Ch. 2.2 - Prob. 73ECh. 2.2 - Bonds Suppose that, in January 2040, you buy a...Ch. 2.2 - Prob. 75ECh. 2.2 - Prob. 76ECh. 2.2 - Prob. 77ECh. 2.2 - Prob. 78ECh. 2.2 - Prob. 79ECh. 2.2 - Prob. 80ECh. 2.2 - Prob. 81ECh. 2.2 - Prob. 82ECh. 2.2 - Prob. 83ECh. 2.2 - Prob. 84ECh. 2.2 - Prob. 85ECh. 2.2 - Prob. 86ECh. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - Prob. 2ECh. 2.3 - Prob. 3ECh. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 16, find the amount accumulated in...Ch. 2.3 - In Exercises 712, find the periodic payments...Ch. 2.3 - Prob. 8ECh. 2.3 - Prob. 9ECh. 2.3 - In Exercises 712, find the periodic payments...Ch. 2.3 - Prob. 11ECh. 2.3 - Prob. 12ECh. 2.3 - In Exercises 1318, find the present value of the...Ch. 2.3 - In Exercises 1318, find the present value of the...Ch. 2.3 - Prob. 15ECh. 2.3 - Prob. 16ECh. 2.3 - Prob. 17ECh. 2.3 - Prob. 18ECh. 2.3 - In Exercises 1924, find the periodic withdrawals...Ch. 2.3 - Prob. 20ECh. 2.3 - Prob. 21ECh. 2.3 - Prob. 22ECh. 2.3 - Prob. 23ECh. 2.3 - In Exercises 1924, find the periodic withdrawals...Ch. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - Prob. 26ECh. 2.3 - Prob. 27ECh. 2.3 - Prob. 28ECh. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - Prob. 30ECh. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - In Exercises 2532, determine the periodic payments...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - In Exercises 3338, determine the outstanding...Ch. 2.3 - Prob. 39ECh. 2.3 - In Exercises 3944, determine the selling price,...Ch. 2.3 - Prob. 41ECh. 2.3 - Prob. 42ECh. 2.3 - Prob. 43ECh. 2.3 - Prob. 44ECh. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Retirement Plans and Trusts Exercises 4554 are...Ch. 2.3 - Prob. 54ECh. 2.3 - Pensions Your pension plan is an annuity with a...Ch. 2.3 - Pensions Jennifers pension plan is an annuity with...Ch. 2.3 - Prob. 57ECh. 2.3 - Pensions Megs pension plan is an annuity with a...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Life Insurance Exercises 5964 are based on the...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Prob. 72ECh. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Exercises 6576 are based on the following table,...Ch. 2.3 - Car Loans While shopping for a car loan, you get...Ch. 2.3 - Prob. 78ECh. 2.3 - Refinancing Your original mortgage was a $96,000,...Ch. 2.3 - Refinancing Kara and Michael take out a $120,000,...Ch. 2.3 - Prob. 81ECh. 2.3 - Note: In Exercises 81 and 82 we suggest the use of...Ch. 2.3 - In Exercises 8390, use a time value of money...Ch. 2.3 - Prob. 84ECh. 2.3 - Prob. 85ECh. 2.3 - Prob. 86ECh. 2.3 - Prob. 87ECh. 2.3 - Prob. 88ECh. 2.3 - Prob. 89ECh. 2.3 - In Exercises 8390, use a time value of money...Ch. 2.3 - Prob. 91ECh. 2.3 - Prob. 92ECh. 2.3 - You make equal payments of $200 per month into...Ch. 2.3 - You make equal payments of $400 per month into...Ch. 2.3 - Prob. 95ECh. 2.3 - Prob. 96ECh. 2.3 - We have so far not taken advantage of the fact...Ch. 2.3 - Repeat Exercise 97 for a 10-year, 3.375% bond...Ch. 2.3 - Consider the formula for the future value of an...Ch. 2.3 - Give a non-algebraic justification for the result...Ch. 2 - In Exercises 16, find the future value of the...Ch. 2 - In Exercises 16, find the future value of the...Ch. 2 - Prob. 3RECh. 2 - Prob. 4RECh. 2 - Prob. 5RECh. 2 - Prob. 6RECh. 2 - Prob. 7RECh. 2 - Prob. 8RECh. 2 - Prob. 9RECh. 2 - In Exercises 712, find the present value of the...Ch. 2 - Prob. 11RECh. 2 - Prob. 12RECh. 2 - Prob. 13RECh. 2 - Prob. 14RECh. 2 - Prob. 15RECh. 2 - Prob. 16RECh. 2 - Prob. 17RECh. 2 - Prob. 18RECh. 2 - Prob. 19RECh. 2 - Prob. 20RECh. 2 - Prob. 21RECh. 2 - Prob. 22RECh. 2 - Prob. 23RECh. 2 - Prob. 24RECh. 2 - Prob. 25RECh. 2 - Prob. 26RECh. 2 - Prob. 27RECh. 2 - Prob. 28RECh. 2 - Prob. 29RECh. 2 - Prob. 30RECh. 2 - Prob. 31RECh. 2 - Stock Investments Exercises 2934 are based on the...Ch. 2 - Prob. 33RECh. 2 - Prob. 34RECh. 2 - Revenue Total online revenues at OHaganBooks.com...Ch. 2 - Net Income Unfortunately, the picture for net...Ch. 2 - Prob. 37RECh. 2 - Prob. 38RECh. 2 - Loans OHaganBooks.com is seeking a $250,000 loan...Ch. 2 - Prob. 40RECh. 2 - Prob. 41RECh. 2 - Prob. 42RECh. 2 - Prob. 43RECh. 2 - Prob. 44RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 46RECh. 2 - Prob. 47RECh. 2 - Prob. 48RECh. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Retirement Planning OHaganBooks.com has just...Ch. 2 - Prob. 51RECh. 2 - Prob. 52RECh. 2 - Prob. 53RECh. 2 - Prob. 54RECh. 2 - Prob. 55RECh. 2 - Prob. 56RE
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