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The nominal interest rate, also known as an annual percentage rate or APR, is the periodic interest rate multiplied by the number of periods per year. For example, a nominal annual interest rate of 12% based on monthly compounding means a 1% interest rate per month (compounded). [2]
When purchasing a new home, most buyers choose to finance a portion of the purchase price via the use of a mortgage. Prior to the wide availability of mortgage calculators, those wishing to understand the financial implications of changes to the five main variables in a mortgage transaction were forced to use compound interest rate tables.
The wheat and chessboard problem (sometimes expressed in terms of rice grains) is a mathematical problem expressed in textual form as: If a chessboard were to have wheat placed upon each square such that one grain were placed on the first square, two on the second, four on the third, and so on (doubling the number of grains on each subsequent ...
The problem is named after its historical application by Allied forces in World War II to the estimation of the monthly rate of German tank production from very limited data. This exploited the manufacturing practice of assigning and attaching ascending sequences of serial numbers to tank components (chassis, gearbox, engine, wheels), with some ...
The interest rate on the reverse mortgage varies. Some programs used to offer fixed rate loans, [7] while others offer variable rate loans. [10] Since the update of the National Consumer Credit Protection Act in September 2012, new reverse mortgage loans are not allowed to have fixed rates.
It is a hard (and often open) problem to calculate the minimum number of tickets one needs to purchase to guarantee that at least one of these tickets matches at least 2 numbers. In the 5-from-90 lotto, the minimum number of tickets that can guarantee a ticket with at least 2 matches is 100. [2]
Whilst the yield curves built from the bond market use prices only from a specific class of bonds (for instance bonds issued by the UK government) yield curves built from the money market use prices of "cash" from today's LIBOR rates, which determine the "short end" of the curve i.e. for t ≤ 3m, interest rate futures which determine the ...
Excel maintains 15 figures in its numbers, but they are not always accurate; mathematically, the bottom line should be the same as the top line, in 'fp-math' the step '1 + 1/9000' leads to a rounding up as the first bit of the 14 bit tail '10111000110010' of the mantissa falling off the table when adding 1 is a '1', this up-rounding is not undone when subtracting the 1 again, since there is no ...
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