Group members:

1. Lê Thị Nhã Uyên – BAFNIU18162

2. Võ Hoàng Toàn – BAFNIU18143

PROJECT
PART 1
Question 1:
A general system of m linear equations with n unknowns can be written as

a11 x1 + a12 x2 + ⋯ + a1n xn = b1

a x + a22 x2 + ⋯ + a2n xn = b2
{ 21 1
⋮
am1 x1 + am2 x2 + ⋯ + amn xn = bm

where x1,x2,x3,..,xn are the unknowns, a11,a12,a13,..,amn are the coefficients of the
system, and b1,b2,b3,..,bm are the constant terms.
The vector equation is equivalent to a matrix equation of the form:
𝐀𝐱 = 𝐛
Then,

𝐱 = 𝐀−𝟏 𝐛
where A is an 𝐦 × 𝐧 matrix, 𝐱 is a column vector with 𝐧 entries, and 𝐛 is a
column vector with 𝐦 entries.
a11 a12 ⋯ a1n
a21 a22 ⋯ a2n
A=( ⋮ ⋮ ⋱ ⋮ )
am1 am2 ⋯ amn
 This example shows how to solve a system of linear equations in Excel. For
example, we have the following system of a 3 × 3 system:

2x − 3y + z = −7
{−4x + 5y + 3z = 6
x + 2y − 2z = 5

In matrix notation, this can be written as Ax = b:

2 −3 1 x −7
(−4 5 3 ) (y ) = ( 6 )
1 2 −2 z 5
We have:
𝟏
𝐀−𝟏 = × (𝐜𝐨𝐟𝐚𝐜𝐭𝐨𝐫 𝐦𝐚𝐭𝐫𝐢𝐱)𝐓
𝐝𝐞𝐭𝐀
Choose the first column:
detA = a11 A11 + a21 A21 + a31 A31
5 3
A11 = (−1)1+1 × det ( ) = 1 × (−16) = −16
2 −2
−3 1
A21 = (−1)2+1 × det ( ) = (−1) × 4 = −4
2 −2
−3 1
A31 = (−1)3+1 × det ( ) = 1 × (−8) = −8
5 1
Then, detA = 2 × (−16) + (−4) × (−4) + 1 × (−8) = −24 ≠ 0
⇒ A−1 exists
Because A−1 (the inverse of A) exists, we can multiply both sides by A−1 to
obtain x = A−1 b. To solve this system of linear equations in Excel, execute the
following steps.
 Step 1: Use the MINVERSE function to return the inverse matrix of A.
First, select the range B3:D5. Next, insert the MINVERSE function shown
below. Finish by pressing CTRL + SHIFT + ENTER.
 Step 2: Use the MMULT function to return the product of matrix A-1 and
B. First, select the range H8:H10. Next, insert the MMULT function
shown below. Finish by pressing CTRL + SHIFT + ENTER.
 In short, first, select the range G6:G8. Next, insert the formula shown below.
Finish by pressing CTRL + HIFT + ENTER.

Question 3:
Substituting:

Annual interest rate r% 4%

Years n 2
Number of payments per
m 12
year
Loan 𝑉0 $40,000

There are 6 steps to create a loan amortization schedule in Excel.

 Step 1: We use the PMT function to calculate the Constant payment. We
have defined name for each value in the cells.
- Define name:

- Use PMT function:

 Step 2: Use the PPMT function to calculate the Principal part of the
payment. The second argument specifies the payment number.

 Step 3: Use the IPMT function to calculate the Interest part of the
payment. The second argument specifies the payment number.
 Step 4: Update the Balance.

 Step 5: Select the range B7:E7 (first payment) and drag it down one row.
Change the Balance formula in the picture below.
 Step 6: Select the range A8:E8 (second payment) and drag it down to row
30 (It takes 24 months to pay off this loan).

PART 2
Question 2/p.522:
7x − 3y = 4
a. {
2x + 5y = 7
7 −3 x 4
The matrix function: ( ) (y ) = ( )
2 5 7

4 −3 det(A1 ) 4 × 5 − 7 × (−3) 41
then A1 = ( ) ⇒x= = = =1
7 5 det(A) 7 × 5 − 2 × (−3) 41
3x + 4y = 5
b. {
2x + 5y = 12
3 4 x 5
The matrix function: ( )( ) = ( )
2 5 y 12

5 4 det(A1 ) 5 × 5 − 4 × 12 −23
then A1 = ( ) ⇒ x= = =
12 5 det(A) 3×5−2×4 7
 x + 4y = 9
c. {
2x − 7y = 3
1 4 x 9
The matrix function: ( ) (y ) = ( )
2 −7 3

9 4 det(A1 ) 9 × (−7) − 4 × 3
then A1 = ( ) ⇒ x= = =5
3 −7 det(A) 1 × (−7) − 2 × 4

Question 7/p.523:
a. The simultaneous equation for the parameters, a and b is:
2a + 4b = 14
{
3a + 9b = 9
2 4 a 14
b. The matrix function: ( )( ) = ( )
3 9 b 9
14 4 2 14
then A1 = ( ) and A2 = ( )
9 9 3 9
det(A1 ) 14 × 9 − 4 × 9
⇒ a= = = 15
det(A) 2×9−3×4
det(A2 ) 2 × 9 − 3 × 14
and b = = = −4
det(A) 2×9−3×4
Hence, TR = 15 × 1 − 4 × 1 = 11
Question 1/p.523:
3 −2 4 x 11
a. (1 4 0) (y) = ( 9 )
5 7 0 z 19

Choose the first row, we have:

11 −2 4
A1 = ( 9 4 0) ⇒ det(A1 ) = a11 A11 + a12 A12 + a13 A13 = −52
19 7 0

and det(A) = a11 A11 + a12 A12 + a13 A13 = −52

det(A1 ) −52
⇒x= = =1
det(A) −52
 4 5 0 x 0
b. (−1 2 3) (y) = ( 19 )
6 −1 2 z −30

Choose the first row, we have:

4 0 0
A2 = −1 19 3) ⇒ det(A2 ) = a11 A11 + a12 A12 + a13 A13 = 512
(
6 −30 2

det(A2 ) 512
det(A) = a11 A11 + a12 A12 + a13 A13 = 128 ⇒ y = = =4
det(A) 128

4 −8 2 x −43
c. ( 1 0 y
6) ( ) = ( 0 )
−3 6 2 z 34

Choose the first row, we have:

4 −8 −43
A3 = ( 1 0 0 ) ⇒ det(A3 ) = a11 A11 + a12 A12 + a13 A13 = 14
−3 6 34

and det(A) = a11 A11 + a12 A12 + a13 A13 = 28

det(A3 ) 14 1
⇒z= = =
det(A) 28 2

Question 3/p.545:
a. x ≥ 0 and y ≥ 0 ⇒ region is bounded by the coordinate axes in the positive
quadrant.
Sketch the line: 5𝑥 + 3𝑦 = 30
When x = 0 we get: 𝑦 = 10, when 𝑦 = 0 we get: 𝑥 = 6
The line passes through (0;10) and (6;0).
Take point (0;0) is a test point, substituting into the inequality gives:
5 × 0 + 3 × 0 = 0 < 30 ⇒ 𝑡𝑟𝑢𝑒
Next, sketch the line: 7𝑥 + 2𝑦 = 28
When x = 0 we get: 𝑦 = 14, when 𝑦 = 0 we get: 𝑥 = 4
The line passes through (0;14) and (4;0).
Take point (0;0) is a test point, substituting into the inequality gives:
7 × 0 + 2 × 0 = 0 < 28 ⇒ 𝑡𝑟𝑢𝑒
Then, we have the feasible region:

b. x ≥ 0 and y ≥ 0 ⇒ region is bounded by the coordinate axes in the positive

quadrant.
Sketch the line: 2𝑥 + 5𝑦 = 20
When x = 0 we get: 𝑦 = 4, when 𝑦 = 0 we get: 𝑥 = 10
The line passes through (0;4) and (10;0).
Take point (0;0) is a test point, substituting into the inequality gives:
2 × 0 + 5 × 0 = 0 < 20 ⇒ 𝑡𝑟𝑢𝑒
Next, sketch the line: 𝑥 + 𝑦 = 5
When x = 0 we get: 𝑦 = 5, when 𝑦 = 0 we get: 𝑥 = 5
The line passes through (0;5) and (5;0).
Take point (0;0) is a test point, substituting into the inequality gives:
5 × 0 + 5 × 0 = 0 < 5 ⇒ 𝑡𝑟𝑢𝑒
Then, we have the feasible region:

c. x ≥ 1 and y ≥ 0 ⇒ region is bounded by the coordinate axes in the positive

quadrant.
Sketch the line: 𝑥 − 2𝑦 = 3
When x = 5 we get: 𝑦 = 1, when 𝑦 = 0 we get: 𝑥 = 3
The line passes through (5;1) and (3;0).
Take point (1;0) is a test point, substituting into the inequality gives:
1 − 2 × 0 = 1 < 3 ⇒ 𝑡𝑟𝑢𝑒
Next, sketch the line: 𝑥 − 𝑦 = 4
When x = 5 we get: 𝑦 = 1, when 𝑦 = 0 we get: 𝑥 = 4
The line passes through (5;1) and (4;0).
Take point (1;0) is a test point, substituting into the inequality gives:
1 − 0 = 1 < 4 ⇒ 𝑡𝑟𝑢𝑒
Then, we have the feasible region:

Question 4/p.545:
a. Base on the feasible region above (Question 3a), we have:

Corners Objective function 4x+9y

(0;0) 4×0+9×0=0
(4;0) 4 × 4 + 9 × 0 = 16
(0;10) 4 × 0 + 9 × 10 = 90
24 70 24 70
( ; ) 4× +9× = 66
11 11 11 11

The maximum value of the objective function is 90, which occurs when x = 0
and y = 10.
 b. Base on the feasible region above (Question 3b), we have:
Corners Objective function 3x+6y
(0;0) 3×0+6×0=0
(0;4) 3 × 0 + 6 × 4 = 24
(5;0) 3 × 5 + 6 × 0 = 15
5 10 5 10
( ; ) 3× +6× = 25
3 3 3 3

The maximum value of the objective function is 25 , which occurs when

5 10
x= and y = .
3 3
c. Base on the feasible region above (Question 3c), we have:
Corners Objective function x+y
(1;0) 1+0=1
(3;0) 3+0=3
(5;1) 5+1=6

The minimum value of the objective function is 1, which occurs when x = 1

and y = 0.
Question 2/p.454:
a. (TC)’ = MC = Q+5
Q2
⇒ TC = + 5Q + C
2
Q2
FC = 20 ⇒ TC = + 5Q + 20
2

b. (TC)’ = MC = 3e0.5Q
⇒ TC = 6 × 3e0.5Q + C

FC = 4 ⇒ TC = 6 × 3e0.5Q + 4
 Question 3/p.454:
MC = 2Q+6
⇒ TC = Q2 + 6Q + C = 212 with Q = 8 ⇒ C = 100
When Q=14, we have 𝑇𝐶 = 𝑄2 + 6𝑄 + 100 = 380

Question 6/p.454:
a. MPL = 1000 − 3L2
⇒ the short − run poduction function is: 1000L − L3
b.
6
MPL = − 0.01
√L
⇒ the short − run poduction function is: 12√L − 0.01L

Question 1/p.455:

5
x7
a. ∫ x(x − 2)dx = − x2 + C
7

10 −x
x11
b. ∫ x − 3√x + e dx = − 2x√x − e−x + C
11
5 2 x4 1
c. ∫ X 3 − 6
+ − 4e −4x
dx = + 5 + 2ln(x) + e−4x + C
X X 4 x

Question 4/p.455:
(1) 𝐹 (x) = (2x + 1)5 ⟹ F ′ (x) = 5 × 2 × (2x + 1)4 = 10 × (2x + 1)4
1
𝑡ℎ𝑒𝑛 ∫(2𝑥 + 1)4 𝑑𝑥 = × (2𝑥 + 1)5 + 𝐶
10
(2)
1
𝑎. ∫(3𝑥 − 2)7 𝑑𝑥 = × (3𝑥 + 2)8 + 𝐶
24
−1
𝑏. ∫(2 − 4𝑥)9 𝑑𝑥 = × (2 − 4𝑥)10 + 𝐶
40
 1
𝑐. ∫(𝑎𝑥 + 𝑏)𝑛 𝑑𝑥 = × (𝑎𝑥 + 𝑏)𝑛+1 + 𝐶
𝑎 × (𝑛 + 1)
1 1
𝑑. ∫ 𝑑𝑥 = 𝑙𝑛(7𝑥 + 3) + 𝐶
7𝑥 + 3 7

Question 10/p.456:
𝑑𝑁
= 10𝑒 −0.1𝑡 ⟹ 𝑁 = 100 × (1 − 𝑒 −0.1𝑡 ) 𝑤𝑖𝑡ℎ 𝑡 = 8 ℎ𝑜𝑢𝑟𝑠 ⟹ 𝑁 = 55
𝑑𝑡
In the long run 𝑡 → +∞ ⇒ 𝑁 = 100

Question 4/p.467:
a. P= 25 - 2Q and Po=5 => Qo=10
Qo 10
CS = ∫ f(Q)dQ − Q o Po = ∫ (25 − 2Q)dQ − 10 × 5 = 100
0 0
b.
10
𝑃= 𝑎𝑛𝑑 𝑃𝑜 = 5 ⟹ 𝑄𝑜 = 4
√𝑄
𝑄𝑜 4
10
𝐶𝑆 = ∫ 𝑓(𝑄)𝑑𝑄 − 𝑄𝑜 𝑃𝑜 = ∫ 𝑓 ( ) 𝑑𝑄 − 5 × 4 = (20√4) − 5 × 4
0 0 √𝑄
= 20
Question 5/p.467:
a.
𝑃 = 12 + 2𝑄 𝑎𝑛𝑑 𝑄𝑜 = 9 ⟹ 𝑃𝑜 = 30
𝑄𝑜 9
𝑃𝑆 = 𝑃𝑜 𝑄𝑜 − ∫ 𝑔(𝑄)𝑑𝑄 = 30 × 9 − ∫ (12 + 2𝑄)𝑑𝑄 = 81
0 0
b.
𝑃 = 20√𝑄+15 𝑎𝑛𝑑 𝑄𝑜 = 9 ⟹ 𝑃𝑜 = 75
𝑄𝑜 𝑄𝑜
𝑃𝑆 = 𝑃𝑜 𝑄𝑜 − ∫ 𝑔(𝑄)𝑑𝑄 = 75 × 9 − ∫ (20√𝑄 + 15) = 180
0 0

Question 9/p.468:
𝐼(𝑡 ) = 2400√𝑡
a. Total capital formation during the first 4 years is:
4 4 1
2 3 4
∫ 2400√𝑡𝑑𝑡 = 2400 ∫ 𝑡 2 = 2400 ( × 𝑡 2 ) = 12800$
0 0 3 1

b. Expression for the annual capital formation during Nth year is:
𝑡 𝑡 1
2 3 2 3
∫ 2400√𝑡𝑑𝑡 = 2400 ∫ 𝑡 2 𝑑𝑡 = 2400 [ × 𝑡 2 − × (𝑡 − 1)2 ]
𝑜 𝑜 3 3
3 3 3 3
= 1600 [𝑡 2 − (𝑡 − 1)2 ] = 1600 [𝑁 2 − (𝑁 − 1)2 ]
3 3
We have: 1600 [𝑁 2 − (𝑁 − 1)2 ] = 4000 ⟹ 𝑁 = 3.28

The annual capital formation exceed 4000$ through the fourth year.

Question 1/p.468:
2
a. ∫ 5x 2 − 4x + 6dx
−1

23 22 (−1)3 (−1)2
= −5 × −4× +6×2−5× +4× − 6 × (−1) = 27
3 2 3 2
10
1 2
𝑏. ∫ 𝑑𝑥 =
2 (2𝑥 + 5)√(2𝑥 + 5) 15

Question 6/p.469:
I(t) = 100e0.1t
5 5
a. ∫ 100e 0.1t
dt = 100 ∫ e0.1t dt = 100(e0.1t )52 = 427.32$
2 2
t t
0.1t
∫ 100e dt = 100000 ⟺ 100 ∫ e0.1t dt = 100000 ⟹ 10e0.1t = 1000
0 0

⟹ t = 46.05
 The capital stock reaches the $100000 level about half way through the 47th
year