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FINANCIAL POLYNOMIALS
Financial Polynomials
Financial Polynomials
Solution to Question 90 (Pg # 304)
Let A =
Now solving the above equation we get,
A = P [(1)2 + 2 (1) (r / 2) + (r 2/ 2)]
A = P [1 + r + (r2 / 4)]
Now if P = $200 and r = 10% we get,
A = 200 [1 + 0.10 + (0.102/2)]
A = 200(1.1 + 0.005)
A = $220.1
Now if P = $5670 and r = 3.5%
A = 5670[1 + 0.035 + (0.0352/2)]
A = 5670(1.035 + 0.00061)
A = $5871.9228.
Discussion
The First outside inside Last (FOIL) method is used to solve the above polynomial. The above ...
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