Comentado [M1]: ¿y el Contenido?

Laboratory #1

7. How long does it take to double the capital that is lent at 21.3% per annum? Comentado [M2]: Numeración consecutiva:
Data: 1, 2,…
𝑴𝑴 = 𝟐𝟐𝒄𝒄
𝒊𝒊 = 𝟐𝟐𝟐𝟐. 𝟑𝟑%
𝒏𝒏 =?
Solution:
𝟐𝟐𝟐𝟐 Comentado [M3]: El uso de negritas sólo para los
: 𝑴𝑴 = 𝑪𝑪(𝟏𝟏 + 𝒊𝒊𝒊𝒊) ⇒ 𝟐𝟐𝟐𝟐 = 𝑪𝑪[𝟏𝟏 + (𝒊𝒊𝒊𝒊)] ⇒ = 𝟏𝟏 + (𝒊𝒊𝒊𝒊) ⇒ 𝟐𝟐 − 𝟏𝟏 = 𝒊𝒊𝒊𝒊 ⇒ 𝟏𝟏 = 𝒊𝒊𝒊𝒊 resultados finales
𝑪𝑪
𝟏𝟏
⇒ 𝒏𝒏 =
𝒊𝒊
𝟏𝟏 𝟏𝟏
⇒ 𝒏𝒏 = ⇒ 𝒏𝒏 =
𝒊𝒊 𝟎𝟎. 𝟐𝟐𝟐𝟐𝟐𝟐
∴ 𝒏𝒏 = 𝟒𝟒. 𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚
 Covert years to months
𝟎𝟎. 𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔𝟔(𝟏𝟏𝟏𝟏) = 𝟖𝟖. 𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎
 Covert months to days
𝟎𝟎. 𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑(𝟑𝟑𝟑𝟑) = 𝟏𝟏𝟏𝟏. 𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅

Interpretation:
 𝑻𝑻𝑻𝑻𝑻𝑻 𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂 𝒓𝒓𝒓𝒓𝒓𝒓𝒓𝒓𝒓𝒓𝒓𝒓 𝒊𝒊𝒊𝒊: 𝟒𝟒 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚, 𝟖𝟖 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒂𝒂𝒂𝒂𝒂𝒂 𝟏𝟏𝟏𝟏 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅.

9. What is the simple monthly interest rate if in 13 months a $45,000 principal

generates $4,500 in interest?
Data:
𝑪𝑪 = $𝟒𝟒𝟒𝟒𝟒𝟒𝟒𝟒𝟒𝟒
𝟏𝟏𝟏𝟏
𝒏𝒏 = 𝟏𝟏𝟏𝟏 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 ⇒ 𝒏𝒏 =
𝟏𝟏𝟏𝟏
𝑰𝑰 = $𝟒𝟒, 𝟓𝟓𝟓𝟓𝟓𝟓
Solution:
𝑰𝑰 𝑰𝑰 $𝟒𝟒, 𝟓𝟓𝟓𝟓𝟓𝟓
: 𝑰𝑰 = 𝑪𝑪𝑪𝑪𝑪𝑪 ⇒ = 𝒊𝒊𝒊𝒊 ⇒ 𝒊𝒊 = ⇒ 𝒊𝒊 =
𝑪𝑪 𝑪𝑪𝑪𝑪 𝟏𝟏𝟏𝟏
($𝟒𝟒𝟒𝟒, 𝟎𝟎𝟎𝟎𝟎𝟎) � �
𝟏𝟏𝟏𝟏
∴ 𝒊𝒊 = 𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎; . 𝒊𝒊. 𝒆𝒆: 𝒊𝒊 = 𝟗𝟗. 𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐% 𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂 𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔
 𝑺𝑺𝑺𝑺 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒊𝒊𝒊𝒊 𝒊𝒊𝒊𝒊:
𝟗𝟗. 𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐𝟐
⟹ 𝒊𝒊 =
𝟏𝟏𝟏𝟏
: 𝒊𝒊 = 𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕% 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔
Interpretation:
Then the monthly interest rate would be 𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕% to generate $4,500 in
interest in 13 months.

11. What is the amount of money borrowed on March 13 if it was paid off with
$16,869.04 on September 25? Assume 19.5% simple annual fee.
Data:
𝑴𝑴 = $𝟏𝟏𝟏𝟏, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟎𝟎𝟎𝟎 March 31-13=18 July 31
𝑪𝑪 =? April 30 August 31
𝒊𝒊 = 𝟏𝟏𝟏𝟏. 𝟓𝟓% May 31 September 25
𝒏𝒏 = 𝟏𝟏𝟏𝟏𝟏𝟏 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅 June 30 Total 196
Solution:
𝑴𝑴 $𝟏𝟏𝟏𝟏, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟎𝟎𝟎𝟎
: 𝑴𝑴 = 𝑪𝑪(𝟏𝟏 + 𝒊𝒊𝒊𝒊) ⇒ 𝑪𝑪 = ⇒ 𝑪𝑪 =
𝟏𝟏 + 𝒊𝒊𝒊𝒊 𝟏𝟏𝟏𝟏𝟏𝟏
𝟏𝟏 + �(𝟎𝟎. 𝟏𝟏𝟏𝟏𝟏𝟏) �𝟑𝟑𝟑𝟑𝟑𝟑��
∴ 𝑪𝑪 = $𝟏𝟏𝟏𝟏, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗
Interpretation:
 Therefore, the amount to be invested on March 13 is $15,249.9984932952.

Comentado [M4]: No dejar espacio

13. In the following table some values are given, get the missing one considering
simple interest
Capital Amount Term (n) Interest

1 25,000 26,750 10 months 8.4% annual

2 11,945.70136 13,200 15 months 8.4% annual
3 37,200 45,737.4 1.5 years 15.3% annual
4 125,000 136,250 20 months 5.4% annual
5 4,520 4,662.38 7 months 5.4% annual
6 63,000 63,330.75 9 months 0.7% annual

Data:

𝐶𝐶 = $25,000
𝑀𝑀 = 26,750
𝑛𝑛 = 10 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 =?
Solution:

𝑴𝑴 − 𝟏𝟏
𝑴𝑴 𝑴𝑴 𝑪𝑪
: 𝑴𝑴 = 𝑪𝑪(𝟏𝟏 + 𝒊𝒊𝒊𝒊) ⇒ 𝟏𝟏 + 𝒊𝒊𝒊𝒊 ⇒ − 𝟏𝟏 = 𝒊𝒊𝒊𝒊 ⇒ = 𝒊𝒊
𝑪𝑪 𝑪𝑪 𝒏𝒏
 𝒎𝒎 (𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕) Comentado [M5]: Respetar el uso y orden de paréntesis,
− 𝟏𝟏 𝟐𝟐𝟐𝟐, 𝟎𝟎𝟎𝟎𝟎𝟎 (𝟏𝟏. 𝟎𝟎𝟎𝟎) − 𝟏𝟏 𝟎𝟎. 𝟕𝟕 corchetes y llaves.
∴ 𝒊𝒊 = 𝒄𝒄 = 𝒊𝒊 = � − 𝟏𝟏� ⇒ 𝒊𝒊 = �
𝟓𝟓 𝟓𝟓 � ⇒ 𝒊𝒊 = 𝟓𝟓
𝒏𝒏
𝟔𝟔 𝟔𝟔 �𝟔𝟔�
⇒ 𝒊𝒊 = 𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎(𝟏𝟏𝟏𝟏𝟏𝟏) ⇒∴ 𝒊𝒊 = 𝟖𝟖. 𝟒𝟒% 𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂 𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔
Data 2:

𝐶𝐶?
𝑀𝑀 = $13200
5
𝑛𝑛 = 15 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = = 1.25 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
4
𝑖𝑖 = 8.4% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.084
Solution:

𝑚𝑚
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖𝑖𝑖) ⇒ = 𝐶𝐶
(1 + 𝑖𝑖𝑖𝑖)
𝑚𝑚 13,200 13,200
∴ 𝐶𝐶 = ⇒ 𝐶𝐶 = ⇒ 𝐶𝐶 =
1 + 𝑖𝑖𝑖𝑖 1 + (0.084)(1.25) 1.105
∴ 𝐶𝐶 = $11945.70136
Comentado [M6]:

Data 3:

𝑪𝑪 = $𝟑𝟑𝟑𝟑, 𝟐𝟐𝟐𝟐𝟐𝟐
𝑴𝑴 =?
𝒏𝒏 = 𝟏𝟏. 𝟓𝟓 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚
𝒊𝒊 = 𝟏𝟏𝟏𝟏. 𝟑𝟑% 𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂 = 𝟎𝟎. 𝟏𝟏𝟏𝟏𝟏𝟏
Solution:
: 𝑰𝑰 = 𝑪𝑪𝑪𝑪𝑪𝑪 ⇒ 𝑰𝑰 = (𝟑𝟑𝟑𝟑, 𝟐𝟐𝟐𝟐𝟐𝟐)(𝟎𝟎. 𝟏𝟏𝟏𝟏𝟏𝟏)(𝟏𝟏. 𝟓𝟓)
∴ 𝑰𝑰 = $𝟑𝟑𝟑𝟑𝟑𝟑𝟑𝟑. 𝟒𝟒
Comentado [M7]:

Data 4:

𝐶𝐶 = $125,000
𝑀𝑀 = $136,250
5
𝑛𝑛 = 20 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
3
𝑖𝑖? Comentado [M8]:

Solution:
𝑚𝑚
𝑀𝑀 𝑀𝑀 −1
: 𝑀𝑀 = (1 + 𝑖𝑖𝑖𝑖) ⇒ = 1 + 𝑖𝑖𝑖𝑖 ⇒ − 1 = 𝑖𝑖𝑖𝑖 ⇒ 𝑐𝑐 = 𝑖𝑖
𝐶𝐶 𝐶𝐶 𝑖𝑖
 ∴ 𝑖𝑖 = 5.4% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠

Comentado [M9]: No tiene numeración de página en la

parte inferior derecha
Data 5:

𝐶𝐶 = $4520
𝑀𝑀 = $4662.33
𝑛𝑛? Comentado [M10]:
𝑖𝑖 = 5.4% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.054
Solution:
𝑚𝑚
𝑀𝑀 𝑀𝑀 −1
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖𝑖𝑖) ⇒ = 1 + 𝑖𝑖𝑖𝑖 ⇒ − 1 = 𝑖𝑖𝑖𝑖 ⇒ 𝑐𝑐 = 𝑛𝑛
𝐶𝐶 𝐶𝐶 𝑖𝑖
7
∴ 𝑛𝑛 = = 0.583(12) ⇒ 𝑛𝑛 = 7 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
12

Data 6:

𝑪𝑪 = $𝟔𝟔𝟔𝟔, 𝟎𝟎𝟎𝟎𝟎𝟎
𝒎𝒎 =? Comentado [M11]:
𝟑𝟑
𝒏𝒏 = 𝟗𝟗 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 = 𝟎𝟎. 𝟕𝟕𝟕𝟕 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚
𝟒𝟒
𝒊𝒊 = 𝟎𝟎. 𝟕𝟕%𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂𝒂 = 𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎
Solution:
: 𝑰𝑰 = 𝑪𝑪𝑪𝑪𝑪𝑪 = 𝑰𝑰 = (𝟔𝟔𝟔𝟔, 𝟎𝟎𝟎𝟎𝟎𝟎)(𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎)(𝟎𝟎. 𝟕𝟕𝟕𝟕)
∴ 𝑰𝑰 = $𝟑𝟑𝟑𝟑𝟑𝟑. 𝟕𝟕𝟕𝟕
: 𝑴𝑴 = 𝑪𝑪 + 𝑰𝑰 ⇒ 𝒎𝒎 = 𝟔𝟔𝟔𝟔, 𝟎𝟎𝟎𝟎𝟎𝟎 + 𝟑𝟑𝟑𝟑𝟑𝟑. 𝟕𝟕𝟕𝟕 Comentado [M12]:
∴ 𝑴𝑴 = $𝟔𝟔𝟔𝟔. 𝟑𝟑𝟑𝟑𝟑𝟑. 𝟕𝟕𝟕𝟕 Comentado [M13]:

In problems 14 to 19 answer true or false and justify your answer. Comentado [M14]: Buena parte de sus premisas no
tienen el punto y aparte.
15. The interest generated by a capital of $53,250 in 10 months with 11.4% simple
annual is $5,058.75.

Data:
𝐶𝐶 = 53,250
𝑖𝑖 = 0.114
10
𝑛𝑛 =
12
Solution:
 : 𝐼𝐼 = 𝐶𝐶𝑖𝑖𝑛𝑛
10
⇒ 𝐼𝐼 = (53,250)(0.114) � �
12
∴ 𝐼𝐼 = $5,058.75
𝑖𝑖. 𝑒𝑒 𝑇𝑇ℎ𝑒𝑒 𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝 𝑖𝑖𝑖𝑖 𝑡𝑡𝑡𝑡𝑡𝑡𝑡𝑡. Comentado [M15]: Escrito incorrectamente

17. A capital of $17,250 lent at 27.3% annual simple interest generates $3,139.50 in
profits in 8 months.

Data:
𝐶𝐶 = 17,250
𝑖𝑖 = 0.273
8
𝑛𝑛 =
12
Solution:
: 𝐼𝐼 = 𝐶𝐶𝑖𝑖𝑛𝑛
8
⇒ 𝐼𝐼 = (17,250)(0.273) � �
12
∴ 𝐼𝐼 = $3,139.50
𝑖𝑖. 𝑒𝑒 𝑇𝑇ℎ𝑒𝑒 𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝𝑝 𝑖𝑖𝑖𝑖 𝑡𝑡𝑡𝑡𝑡𝑡𝑡𝑡
Comentado [M16]:

In the problems from 20 to 33 select the option justifying your choice

21. What is the due date for an $18,300 loan document obtained on February 3?
Assume interest of 36% simple annual and its nominal value is $20,038.50

a) June 25 b) April 30 c) May 9 d) June 1 e) Other

Data:
𝑪𝑪 = $𝟏𝟏𝟏𝟏, 𝟑𝟑𝟑𝟑𝟑𝟑
𝒊𝒊 = 𝟑𝟑𝟑𝟑% ⟹ 𝒊𝒊 = 𝟎𝟎. 𝟑𝟑𝟑𝟑
𝑴𝑴 = $𝟐𝟐𝟐𝟐, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟓𝟓𝟓𝟓
Solution:
𝑴𝑴 𝑴𝑴 − 𝑪𝑪 𝑴𝑴 − 𝑪𝑪
: 𝑴𝑴 = 𝑪𝑪(𝟏𝟏 + 𝒊𝒊𝒊𝒊) ⟹
= 𝟏𝟏 + 𝒊𝒊𝒊𝒊 ⟹ = 𝒊𝒊𝒊𝒊 ⟹ 𝒏𝒏 =
𝑪𝑪 𝑪𝑪 𝒊𝒊𝒊𝒊
𝑴𝑴 − 𝑪𝑪 $𝟐𝟐𝟐𝟐, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟓𝟓𝟓𝟓 − $𝟏𝟏𝟏𝟏, 𝟑𝟑𝟑𝟑𝟑𝟑 $𝟏𝟏, 𝟕𝟕𝟕𝟕𝟕𝟕. 𝟓𝟓
⟹ 𝒏𝒏 = ⟹ 𝒏𝒏 = ⟹ 𝒏𝒏 =
𝒊𝒊𝒊𝒊 (𝟎𝟎. 𝟑𝟑𝟑𝟑)($𝟏𝟏𝟏𝟏, 𝟑𝟑𝟑𝟑𝟑𝟑) $𝟔𝟔, 𝟓𝟓𝟓𝟓𝟓𝟓
 : 𝒏𝒏 = 𝟑𝟑. 𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎

𝑻𝑻𝑻𝑻𝑻𝑻 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅 𝒕𝒕𝒕𝒕𝒕𝒕𝒕𝒕 𝒂𝒂 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒉𝒉𝒉𝒉𝒉𝒉:

𝟎𝟎. 𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏(𝟑𝟑𝟑𝟑) = 𝟓𝟓. 𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅
∴ 𝒏𝒏 = 𝟑𝟑 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒔𝒔 𝒂𝒂𝒂𝒂𝒂𝒂 𝟓𝟓 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅 𝒐𝒐𝒐𝒐 𝟗𝟗𝟗𝟗 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅

February 28-3=25
March 31
April 30
May 9
Total 95

Interpretation:

 Then it expired on May 09th

Comentado [M17]:

22. With what simple annual interest rate will you have $24,086 next July 5th if you
invest now, December 20th, $23,350.00?

a) 4.98% b) 5.36% c) 5.08% d) 5.76% e) Other

Comentado [M18]:

Data:

𝑀𝑀 = 24,086

𝐶𝐶 = $23,350

: 𝑛𝑛 = 197�360

Solution:

𝐼𝐼 736
: 𝑖𝑖 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝑖𝑖 = ⟹ 𝑖𝑖 =
𝐶𝐶𝐶𝐶 197
(23,350) �360�

⟹ 𝑖𝑖 = 0.05760

∴ 𝑖𝑖 = 5.57% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎

Interpretation:
 Then they will have a simple annual interest rate of: 5.57%

Comentado [M19]:
23. - In problem 22, how much will be taken into account on the following October
14?

a) $25,093.72 b) $24,463.34 c) $24,809.3 d) $24,625.35 e) Other

Data:

𝑀𝑀 =?

𝑖𝑖 = 5.76% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎

𝐶𝐶 = $23, 350

298
𝑛𝑛 =
360
Solution:
: 𝑀𝑀 = 𝐶𝐶 + (1 + 𝑖𝑖𝑖𝑖)

298
⇒ 𝑀𝑀 = $23,350(1 + (0.05760)(360)

∴ 𝑀𝑀 = 24,463.328

Comentado [M20]:
The amount that will be taken on October 14 is $24,463.328.

Days = 298

25. Lupita deposits $26,500 in an account that earns her 5.1% annual simple
interest, 4 months later she withdraws 40% of what she has in her account and 3
months later the rest. How much interest did you get?
 a) $690.25 b) $598.73 c) $656.67 d) $720.30 e) Other
1. Data:
𝐶𝐶 = $26, 500
𝑖𝑖 = 5.1 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.051
2
𝑛𝑛 = 4 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
6
𝐼𝐼1 =?
1. Solution:

: 𝐼𝐼1 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝐼𝐼1 = (26, 500) (0. 051) (2�6)

∴ 𝐼𝐼1 = $450.5
: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝑀𝑀 = $26, 500 + $450.5
∴ 𝑀𝑀 = $26, 950.5
⟹ 𝑀𝑀 = (26, 950.5) (. 40) = $10, 780.2
⟹ 𝑀𝑀 = (26, 950.5) (. 60) = $16, 170.3 ⟹ 𝐶𝐶2

a. Data:
𝐶𝐶2 = $16, 170.3
𝑖𝑖 = 5.1 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.051
3
𝑛𝑛 = 3 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
12
𝐼𝐼2 =?
1. Solution:

: 𝐼𝐼2 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝐼𝐼2 = (16, 170.3) (0. 051) (3�12)

∴ 𝐼𝐼2 = $ 206. 171325

: 𝐼𝐼 = 𝐼𝐼1 + 𝐼𝐼2 ⟹ 𝐼𝐼 = $450.5 + $206. 171325
∴ 𝐼𝐼 = $656.671325
Interpretation:
 4 months later that Lupita deposits in her account and the interest for 40% is
I¹= $450.5 i.e. M= $26,950.5, and the rest interest is $206. 171325 i.e.: total
interest I= $656.671325.
29. In June, Professor Gutierrez deposits his $17,450 vacation bonus in a bank
that gives him a 5.44% annual bonus.

a) $17,924.64 b) $18,625.30 c) $17,529.08 d) $18,123.32 e) Other

Data:
𝑀𝑀 =?
𝐶𝐶 = $ 17, 450
1
𝑛𝑛 = 6 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
2
𝑖𝑖 = 5.44 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.0544
Solution:

: 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝐼𝐼 = (17, 450) (0.0544) (1�2)

∴ 𝐼𝐼 = $474.64
: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝑀𝑀 = $17, 450 + $474.64
∴ 𝑀𝑀 = $17, 924.64
Interpretation:
 Her interest for deposits in June for Professor Gutiérrez to December is
$474.64 i.e. M=$17, 924.64

30. When an employee retires, he receives $65,000 in his pension, 40% of which is
deposited in a bank that generates 6.69% annual interest, and 35% of which is used
to buy silver, whose value grows at a rate of 1.7% per two-month period.

a) $12,729.65 b) $12,968.85 c) $ 13,282.94 d) 13,605.32 e) Other

Data:
𝑪𝑪𝟏𝟏 = $𝟐𝟐𝟐𝟐, 𝟎𝟎𝟎𝟎𝟎𝟎
𝑪𝑪𝟐𝟐 = $𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕
𝒊𝒊𝟏𝟏 = 𝟔𝟔. 𝟔𝟔𝟔𝟔%
𝒊𝒊𝟐𝟐 = 𝟏𝟏. 𝟕𝟕%
𝒏𝒏𝟏𝟏 = 𝟑𝟑 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚
𝒏𝒏𝟐𝟐 = 𝟏𝟏𝟏𝟏 𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃𝒃
Solution:
: 𝑰𝑰𝟏𝟏 = 𝑪𝑪𝟏𝟏 𝒊𝒊𝟏𝟏 𝒏𝒏𝟏𝟏 ⟹ 𝑰𝑰𝟏𝟏 = ($𝟐𝟐𝟐𝟐, 𝟎𝟎𝟎𝟎𝟎𝟎)(𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎)(𝟑𝟑)
∴ 𝑰𝑰𝟏𝟏 = $𝟓𝟓, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟐𝟐
  In order to obtain the second interest rate, it is necessary to first obtain the
amount.
𝑪𝑪 = $𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕; 𝒊𝒊 = 𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎; 𝒏𝒏 = 𝟏𝟏𝟏𝟏
: 𝑴𝑴 = 𝑪𝑪(𝟏𝟏 + 𝒊𝒊)𝒏𝒏 ⟹ 𝑴𝑴 = $𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕(𝟏𝟏 + 𝟎𝟎. 𝟎𝟎𝟎𝟎𝟎𝟎)𝟏𝟏𝟏𝟏
∴ 𝑴𝑴 = $𝟑𝟑𝟑𝟑, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕

 So now the second interest can be obtained by subtracting the amount

minus the principal.
𝑴𝑴 = $𝟑𝟑𝟑𝟑, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕; 𝑪𝑪 = $𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕
: 𝑰𝑰𝟐𝟐 = 𝑴𝑴 − 𝑪𝑪 ⟹ 𝑰𝑰𝟐𝟐 = $𝟑𝟑𝟑𝟑, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕 − $𝟐𝟐𝟐𝟐, 𝟕𝟕𝟕𝟕𝟕𝟕
∴ 𝑰𝑰𝟐𝟐 = $𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕

 The total interest is:

: 𝑰𝑰 = 𝑰𝑰𝟏𝟏 + 𝑰𝑰𝟐𝟐 ⟹ 𝑰𝑰 = $𝟓𝟓, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟐𝟐 + $𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕
∴ 𝑰𝑰 = $𝟏𝟏𝟏𝟏, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟗𝟗𝟗𝟗
Interpretation:

 So the interest you will get from the two different deposits is: $𝟏𝟏𝟏𝟏, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟗𝟗𝟗𝟗

31. In problem 30, which of the two investments produced more profits and how
much were these?

a) $5,928. 20 second
b) $8,064.74 second
c) $6,929.31 first
d) $7,429.61 second
e) Other

Data:
𝑰𝑰𝟏𝟏 = $𝟓𝟓, 𝟐𝟐𝟐𝟐𝟐𝟐. 𝟐𝟐 𝒇𝒇𝒇𝒇𝒇𝒇𝒇𝒇𝒇𝒇 𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊
𝑰𝑰𝟐𝟐 = $𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕 𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔𝒔 𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊𝒊
Solution:
$𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕 > $𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕
Interpretation:
 Then the second investment of $𝟖𝟖, 𝟎𝟎𝟎𝟎𝟎𝟎. 𝟕𝟕𝟕𝟕𝟕𝟕𝟕𝟕 produce more profits
Comentado [M21]:

33. How long does it take for a capital of $15,600 to generate $670.80 in interest of
7.2% per year?

a) 209 days b) 215 days c) 198 days d) 235 days e) Other

Comentado [M22]:
Data:
𝑛𝑛 = ?
𝐶𝐶 = $15, 600
𝐼𝐼 = $ 670.80
𝑖𝑖 = 7.2% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.072
Solution:

𝑖𝑖 = 𝐶𝐶𝐶𝐶𝐶𝐶
where I: 670.80 , c = 15600 and i = 0.072
𝐼𝐼 670.80
: 𝑛𝑛 = ⟹ 𝑛𝑛 =
𝑖𝑖𝑖𝑖 (15600)(0.072)
670.80
: 𝑛𝑛 = ⟹ 𝑛𝑛 = 0.597222222222 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
11232
𝑻𝑻𝑻𝑻𝑻𝑻 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒕𝒕𝒕𝒕𝒕𝒕𝒕𝒕 𝒂𝒂 𝒚𝒚𝒚𝒚𝒚𝒚𝒚𝒚 𝒉𝒉𝒉𝒉𝒉𝒉:
0.597222222222(12) = 7.166666667 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑻𝑻𝑻𝑻𝑻𝑻 𝒅𝒅𝒅𝒅𝒅𝒅𝒅𝒅 𝒕𝒕𝒕𝒕𝒕𝒕𝒕𝒕 𝒂𝒂 𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎𝒎 𝒉𝒉𝒉𝒉𝒉𝒉:
𝑂𝑂. 166666667(30) = 5.00000001 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
∴ 𝑛𝑛 = 7 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 𝑎𝑎𝑎𝑎 5 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑 𝑜𝑜𝑜𝑜 215 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
Interpretation:
It takes 215 days to generate 670.80 with interest of 7.2 simple per year
Comentado [M23]:

Examples:

1. For how long does a capital of €25,000 at 5% have to be imposed for it to

become €30,000?
Data:
𝐶𝐶 = €25,000
𝑖𝑖 = 5% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠 = 0.05
𝑀𝑀 = €30,000
𝐼𝐼 = ?
 𝑛𝑛 = ?
Solution:
∶ 𝐼𝐼 = 𝑀𝑀 − 𝐶𝐶 ⟹ 𝐼𝐼 = 30, 000€ − 20, 000 €

∴ 𝐼𝐼 = 5, 000 €
𝐼𝐼 5, 000
∶ 𝑛𝑛 = ⟹ = 4 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝐶𝐶 ∗ 𝑖𝑖 25, 000 ∗ 0.05
Interpretation:
The long for the capital of €25000 increase to €30000 is in 4 years.
Comentado [M24]:

2. In how long will the interest be equal to three times the initial capital placed
at an interest rate of 6%?
Data:
𝐼𝐼 = 3𝐶𝐶
𝑖𝑖 = 6 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠 = 0.06
Solution:
3𝐶𝐶 3
∶ 3𝐶𝐶 = 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ = 𝑖𝑖𝑖𝑖 ⟹ 3 = 𝑖𝑖𝑖𝑖 ⟹ 𝑛𝑛 =
𝐶𝐶 𝑖𝑖
3
∶ 𝑛𝑛 = = 50 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
0.06
Interpretation:
The long for the interest will be three times the initial capital is in 50 years.
Comentado [M25]:

3. How long does it take for a principal of $ 18620 to generate $ 787 in interest of
5.2% simple per year?
a) 300 days b) 246 days c) 340 days d) 292 days c) other
Data:
𝑛𝑛 = ?
𝐶𝐶 = $18, 620
𝐼𝐼 = $787
 𝒊𝒊 = 5.2% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.052
Solution:
𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶
𝐼𝐼 787
∶n= ⟹ 𝑛𝑛 =
𝑐𝑐𝑐𝑐 (18, 620)(0.052)
787
∶n= ⟹ 𝑛𝑛 = 0. 812815004 (360)
968.24
∴ 𝑛𝑛 = 292 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
Interpretation:
It takes 292 days to generate $787with interest of 5.2% simple per year
Comentado [M26]:

4. How long does it take for a principal of $ 19513 to generate $ 632 in interest of
4.6% simple per year?
a) 300 days b) 246 days c) 340 days d) 292 days c) other
Data:
𝑛𝑛 = ?
𝐶𝐶 = $19, 513
𝐼𝐼 = $632
𝒊𝒊 = 4.6% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.046
Solution:
𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶
𝐼𝐼 632
∶n= ⟹ 𝑛𝑛 =
𝑐𝑐𝑐𝑐 (19, 513)(0.046)
632
∶n= ⟹ 𝑛𝑛 = 0. 70410139 (360)
897.598
∴ 𝑛𝑛 = 253 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
Interpretation
It takes 253 days to generate $632with interest of 4.6% simple per year.

5. In one project, $2,000,000 is invested and at the end of one year the project
returns in total $2,500,000: Comentado [M27]: No está alineado
 a. Represent graphically M=$3, 500,000

1 2 3 4 5 6 7 8 9 10 11 12
C=$3, 000,000

b. What is the interest obtained in this project?

Data:
𝑀𝑀 = $2,500,000
𝐶𝐶 = $2,000,000

Solution:

: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝐼𝐼 = 𝑀𝑀 − 𝐶𝐶 ⟹ 𝐼𝐼 = $3,500,000 − $3,000,000
∴ 𝐼𝐼 = $500,000
Interpretation:
The interest obtained in this project is I= $ 500, 000.

c. What is the interest rate earned on this project?

Data:

𝐼𝐼 = $500,000
𝐶𝐶 = $2,000,000
12
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 ⟹ 𝑛𝑛 =
12

Solution:

𝐼𝐼 $500,000
𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝑖𝑖 = ⟹ 𝑖𝑖 =
𝑛𝑛𝑛𝑛 12
�12� ($2,000,000)
∴ 𝑖𝑖 = 0.25; 𝑖𝑖. 𝑒𝑒. : 𝑖𝑖 = 25%
Interpretation:
The interest rate earned on this project is ∴ 𝑖𝑖 = 0.25; 𝑖𝑖. 𝑒𝑒. : 𝑖𝑖 = 25%

6. Juan deposits $3,500,000 into a savings account today and, after six months,
makes a withdrawal from the entire account equal to $4,150,000:

a. Represent graphically
M=$4, 150,000
 1 2 3 4 5 6
C=$3, 500,000

b. What is the interest he earned on the savings account?

Data:
𝑀𝑀 = $4,150,000
𝐶𝐶 = $3,500,000
Solution:

: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝐼𝐼 = 𝑀𝑀 − 𝐶𝐶 ⟹ 𝐼𝐼 = $4,150,000 − $3,500,000
∴ 𝐼𝐼 = $650,000
Interpretation:
The interest he earned on the savings account is ∴ 𝐼𝐼 = $650,000

c. What is the interest rate you earn on the savings account?

Data:

𝐼𝐼 = $650,000
𝐶𝐶 = $3,500,000
6 1
𝑛𝑛 = 6 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 ⟹ 𝑛𝑛 = ⟹ 𝑛𝑛 =
12 2
Solution:
𝐼𝐼 $650,000
𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⟹ 𝑖𝑖 = ⟹ 𝑖𝑖 =
𝑛𝑛𝑛𝑛 1
�2� ($3,500,000)
∴ 𝑖𝑖 = 0.37142857; 𝑖𝑖. 𝑒𝑒. : 𝑖𝑖 = 37.142857%
Interpretation:
The interest rate that he earned on the savings account is ∴ 𝑖𝑖 = 0.37142857;
𝑖𝑖. 𝑒𝑒. : 𝑖𝑖 = 37.142857%
Comentado [M28]:

7. Calculate the interest produced by $ 2800 at 20% per annum for 4 years?

Data:
𝐼𝐼: ¿ Comentado [M29]:
𝐶𝐶 = $2800
𝑖𝑖 = 20% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 (0.2)
𝑛𝑛 = 4 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
 Comentado [M30]:

Solution:
: 𝐼𝐼 = 𝐶𝐶 𝑖𝑖 𝑛𝑛
⟹ 𝐼𝐼 = (2800)(0.2)(4)
∴ 𝐼𝐼 = $2,240
Interpretation:
The interest produced by $2, 800 at 20% per annum for 4 years is ∴ 𝐼𝐼 = $2,240
Comentado [M31]:

8. A capital of $ 5,200 was loaned at 22% per annum for 120 days. How much
is the interest?
Data:
𝐼𝐼: ?
𝐶𝐶 = $5200
𝑖𝑖 = 22% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.22
120
𝑛𝑛 = 120 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑 360 Comentado [M32]:

Solution:
: 𝐼𝐼 = 𝐶𝐶 𝑖𝑖 𝑛𝑛
120
⟹ 𝐼𝐼 = (5200)(0.22) � �
360
∴ 𝐼𝐼 = $381.3333
Interpretation:
The interest that produce a capital de $5, 200 was loaned at 22% per annum for 120
days is ∴ 𝐼𝐼 = $381.3333
9. A merchant purchases a batch of merchandise worth $ 3,500 that he agrees
to liquidate with an immediate payment of $ 1,500 and a final payment 4
months later. He agrees to pay 10% simple annual interest on the balance.
How much will you have to pay in 4 months?
Data:
𝐶𝐶 = 3,500 − 1,500 = 2,000
𝑖𝑖 = 0.10
 4 1
𝑛𝑛 = =
12 3
Solution:
𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖𝑖𝑖)
1
⇒ 𝑀𝑀 = 2,000 �1 + (0.10) � ��
3
∴ 𝑀𝑀 = $2,066.67
Interpretation:
I have to pay ∴ 𝑀𝑀 = $2,066.67 in 4 months with 10% simple annual interest on the
balance.
10. A person deposits $ 150,000 in a stock investment fund that guarantees a
return of 0.8% per month. If you withdraw your deposit 24 days later. How
much do you receive?
Data:
𝐶𝐶 = 150,000
𝑖𝑖 = 0.8% 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑦𝑦
24
𝑛𝑛 = 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
30
Comentado [M33]:

Solution:
𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖𝑖𝑖)
4
⇒ 𝑀𝑀 = 150,000 �1 + (0.008) � ��
5
∴ 𝑀𝑀 = $150,960
Interpretation:
A person receive ∴ 𝑀𝑀 = $150,960 of your first deposit 24 days later.

Comentado [M34]: No dejar espacio

 11. If we invest $ 9,500 for 8 months at 3.5% simple interest, what is the capital
we receive?

Data:

𝐶𝐶 = $9, 500

𝑖𝑖 = 3.5% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.035

8
𝑛𝑛 = 8 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 =
12

𝐼𝐼 =?

Solution:

∶ 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶

8
⇒ 𝐼𝐼 = 9500[0.035 �12�]

∴ 𝐼𝐼 = $221.66

Interpretation:
If we invest $9,500 for 8 months at 3.5% annual interest, we obtain interest of
$221.67.
Comentado [M35]:

12. We invested a capital of $ 250,000 at an annual interest rate of 6% for a

certain time, it has generated interest of $ 10,000, how long has it been
invested?

Data:

𝐶𝐶 = $250, 000
𝑖𝑖 = 6% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.06
𝐼𝐼 = $10, 000
𝑛𝑛 =?
Solution:

: 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶
10,000 = 250,000[0.06(𝑛𝑛)]
10,000
= 0.06(𝑛𝑛)
250,000
 10,000
𝑛𝑛 =
[250,000(0.06)]
𝑛𝑛 = 0.66 ∗ 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑛𝑛 = 7.9𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 ≅ 8𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Interpretation:

The time during which the capital has been invested is 8 months.
Comentado [M36]:

13. A capital of $ 8500 was loaned at 17% per annum for 240 days. How much is
the interest?
Data:
𝐼𝐼: ¿
𝐶𝐶 = $8500
𝑖𝑖 = 17% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 (0.17)
240
𝑛𝑛 = 240 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑 = 360

Solution:
: 𝐼𝐼 = 𝐶𝐶 𝑖𝑖 𝑛𝑛
240
⟹ 𝐼𝐼 = (8500)(0.17) � �
360
∴ 𝐼𝐼 = $963.33333333
Interpretation:
The interest for the capital of $8, 500 was loaned at 17% per annum for 240 days
is ∴ 𝐼𝐼 = $963.33333333

14. A man buy a new Xbox $ 5,500 that he agrees to liquidate with an immediate
payment of $ 2,500 and a final payment 6 months later. He agrees to pay
20% simple annual interest on the balance. How much will you have to pay in
6 months?
Data:
𝐶𝐶 = $5,500 − $2,500 = $3,000
𝑖𝑖 = 20% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.20
6 1
𝑛𝑛 = =
12 2
Comentado [M37]:
Solution:
𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖𝑖𝑖)
1
⇒ 𝑀𝑀 = 3,000 �1 + (0.20) � ��
2
∴ 𝑀𝑀 = $3,300
Interpretation:
I will have to pay in 6 months ∴ 𝑀𝑀 = $3,300
Comentado [M38]:

15. What is the simple monthly interest rate if in 13 months with a principal of
$20,000 it generates $ 2000 in interest?
Data:
13
𝑛𝑛 = 13 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 = = 1.08333
12
𝐶𝐶 = $20,000
𝐼𝐼 = $2,000
Solution:
𝐼𝐼 𝐼𝐼
: 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶 ⇒ = 𝑖𝑖𝑖𝑖 ⇒ = 𝑖𝑖
𝐶𝐶 𝑐𝑐𝑐𝑐
𝐼𝐼 2,000 2,000
: 𝑖𝑖 = ⇒ = = 0.92307976
𝑐𝑐𝑐𝑐 (20,000)(1.08333) 21,666.6
9.2307976
∴ 𝑖𝑖 = = 0.7692331333333
12
Interpretation:
The simple monthly interest rate in 13 months is ∴ 𝑖𝑖 = 0.7692331333333

16. A principal capital of $ 44,255 that is loaned with a 22.4% annual simple
interest generates $ 7,434.89 of 9-month profits.
Data:
𝐶𝐶 = $44,255
𝑖𝑖 = 22.4% = 0.224
9
𝑛𝑛 = 9 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 =
12
Solution:
: 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶
 9
⇒ 𝐼𝐼 = (44,255)(0.224) � �
12
∴ 𝐼𝐼 = $7,434.84

Interpretation:
The interest for the capital of $44, 255 with a 222.4% annual simple of interest
generates was ∴ 𝐼𝐼 = $7,434.84

Comentado [M39]: Cuando se termina un laboratorio,

entonces, sí dejamos el resto de la página
Laboratory #2

1. Assume that $25, 000 was deposited in a bank account that pays 7.8%
compound annual interest per month.
a) What will be the amount at the end of the one year and nine months?
Data:
𝐶𝐶 = $25, 000
𝑖𝑖 = 7.8 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.078
𝑛𝑛 = 21 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑀𝑀 =?
Solution:

0.078 21
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)21 ⟹ 𝑀𝑀 = 25, 000 �1 + � ��
12
∴ 𝑀𝑀 = $28, 643.71688
Interpretation:
The amount at the end of the one year and nine months for a capital of $$25, 000
with 7.8 % compound annual interest per month was ∴ 𝑀𝑀 = $28, 643.71688
Comentado [M40]:

2. Assume that $ 77, 900 was deposited in a bank account that pays 13.9%
compound annual interest per month.
b) What will be the amount at the end of the three years and seven months? Comentado [M41]: Pero era inciso (a) nuevamente!!!!!!

Data:
𝐶𝐶 = $77, 900
𝑖𝑖 = 13.9 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.139
𝑛𝑛 = 43 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑀𝑀 =?
Solution:

0.139 43
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)21 ⟹ 𝑀𝑀 = 77, 900 �1 + � ��
12
∴ 𝑀𝑀 = $127, 823.0184
Interpretation:
The amount at the end of three years and seven months for a capital of $$77, 900
with 13.9 % compound annual interest per month was ∴ 𝑀𝑀 = $127, 823.0184

3. Investment of a capital for a pre-established amount.

a) That capital must now be invested at 7.67% per year capitalizable by bimestres
to have $ 85,300 in 11 months?

Data:
11
𝑛𝑛 = 11 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 ⇒ 𝑛𝑛 =
12
𝑝𝑝 = 6 𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏
𝑀𝑀 = $85,300
𝑖𝑖 = 7.67% ⇒ 𝑖𝑖 = 0.0767

Solution:

𝑖𝑖 𝑛𝑛𝑛𝑛 𝑀𝑀 $83,500
: 𝑀𝑀 = 𝐶𝐶 �1 + � �� ⇒ 𝐶𝐶 = ⇒ 𝐶𝐶 =
𝑝𝑝 𝑖𝑖 𝑛𝑛𝑛𝑛 11
�1 + �𝑝𝑝�� 0.0767 �12�(6)
�1 + � 6 ��
$83,500
⇒ 𝐶𝐶 = 11
0.0767 � 2 �
�1 + � 6 ��
∴ 𝐶𝐶 = $79,544.110366104
Interpretation:
The capital must now be invested at 7.67% per year capitalizable by
bimestres to have $ 85,300 in 11 months must be ∴ 𝐶𝐶 = $79,544.110366104
Comentado [M42]:

b) How much are interest?

Data:
𝑀𝑀 = $85,300
𝐶𝐶 = $79,544.110366
Solution:

: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝐼𝐼 = 𝑀𝑀 − 𝐶𝐶 ⇒ 𝐼𝐼 = $85,300 − $79,544.110366104
∴ 𝐼𝐼 = $5,755.889633896
Interpretation:
The interest for a capital invested is ∴ 𝐼𝐼 = $5,755.889633896

4. Investment of a capital for a pre-established amount.

a) What capital must now be invested at 19.1% per year capitalizable by bimestres
to have $ 115,700 in 7 months?
Data:

7
𝑛𝑛 = 7 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 ⇒ 𝑛𝑛 =
12
𝑝𝑝 = 6 𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏
𝑀𝑀 = $115,700
𝑖𝑖 = 19.1% ⇒ 𝑖𝑖 = 0.191
Solution:

𝑖𝑖 𝑛𝑛𝑛𝑛 𝑀𝑀 $115,700
: 𝑀𝑀 = 𝐶𝐶 �1 + � �� ⇒ 𝐶𝐶 = ⇒ 𝐶𝐶 = ⇒ 𝐶𝐶
𝑝𝑝 𝑖𝑖 𝑛𝑛𝑛𝑛 7
�1 + �𝑝𝑝�� 0.191 �12�(6)
�1 + � 6 ��
$115,700
= 7
0.191 �2�
�1 + � 6 ��
∴ 𝐶𝐶 = $103,681.177606682
Interpretation:
The capital must now be invested at 19.1% per year capitalizable by
bimestres to have $ 115,700 in 7 months must be ∴ 𝐶𝐶 = $103,681.177606682

b) How much are interest?

Data:

𝑀𝑀 = $115,700
𝐶𝐶 = $103,681.177606682
Solution:

: 𝑀𝑀 = 𝐶𝐶 + 𝐼𝐼 ⟹ 𝐼𝐼 = 𝑀𝑀 − 𝐶𝐶 ⇒ 𝐼𝐼 = $115,700 − $103,681.177606682
∴ 𝐼𝐼 = $12,018.822394418
Interpretation:
The interest for a capital invested is ∴ 𝐼𝐼 = $12,018.822394418
5. - Obtain the amount that accumulates in seven years, if a capital of $335,900 is
invested at 15.3% compounded semiannually.

Data:

C=$335,900

i= 15.3% Semianually=0.153

p=2 because is semiannually

n=7 years
Solution:

𝑖𝑖
∶ 𝑀𝑀 = 𝐶𝐶[1 + � �]𝑛𝑛𝑛𝑛
𝑝𝑝
0.153 2∗7
⇒ 𝑀𝑀 = 335,900[1 + � �]
2
0.153 14
⇒ 𝑀𝑀 = 335,900[1 + � �]
2
∴ 𝑀𝑀 = $942,771
Interpretation:

The amount that we have after having 7 years accumulating with an interest rate of
15.3 is of $942,771.

6. - Obtain the amount that accumulates in eleven years, if a capital of $793,400 is

invested at 21.7% compounded semiannually.

Data:

n=11 years

C=$793,400
i=21.7% semiannually = 0.217

p=2 semiannually
Solution:

𝑖𝑖
∶ 𝑀𝑀 = 𝐶𝐶[1 + � �]𝑛𝑛𝑛𝑛
𝑝𝑝
 0.217 11∗2=22
⇒ 𝑀𝑀 = 793,400[1 + ( )
2
∴ 𝑀𝑀 = $7,650,283.68938905
Interpretation:

The amount that has been accumulating with the interest rate of 21.7% semiannually
is of $7,650,283.68928905.

7. With what annual interest rate capitalizable by bimestres is a tripled capital in six
years?
Data:
𝑀𝑀 = 3𝐶𝐶
𝑛𝑛 = 6 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 6 𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏
𝑛𝑛𝑛𝑛 = (6)(6)
Solution:
𝑖𝑖 𝑛𝑛𝑛𝑛
: 𝑀𝑀 = 𝐶𝐶 �1 + � ��
𝑝𝑝
1
𝑖𝑖 36 3𝐶𝐶 𝑖𝑖 36 1 𝑖𝑖 36 36
⇒ 3𝐶𝐶 = 𝐶𝐶 �1 + � �� ⇒ = �1 + � �� ⇒ 3�36� = ��1 + � �� �
6 𝐶𝐶 6 6
1 𝑖𝑖 1 𝑖𝑖 1
⇒ 3�36� = 1 + � � ⇒ 3�36� − 1 = ⇒ 𝑖𝑖 = 6 �3�36� − 1�
6 6
∴ 𝑖𝑖 = 0.185924549(100) 𝑖𝑖. 𝑒𝑒 ∴ 𝑖𝑖 = 18.59245497%

Interpretation:
The annual interest rate capitalizable by bimestres of ∴ 𝑖𝑖 = Comentado [M43]:
0.185924549(100) 𝑖𝑖. 𝑒𝑒 ∴ 𝑖𝑖 = 18.59245497%

Comentado [M44]:

8. With what annual interest rate capitalizable by bimestres is a sevenfold capital in

nine years?
Data:
 𝑀𝑀 = 7𝐶𝐶
𝑛𝑛 = 9 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 6 𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏𝑏
𝑛𝑛𝑛𝑛 = (9)(6)
Solution:
𝑖𝑖 𝑛𝑛𝑛𝑛
: 𝑀𝑀 = 𝐶𝐶 �1 + � ��
𝑝𝑝
1
𝑖𝑖 54 7𝐶𝐶 𝑖𝑖 54 1 𝑖𝑖 54 54
⇒ 7𝐶𝐶 = 𝐶𝐶 �1 + � �� ⇒ = �1 + � �� ⇒ 7�54� = ��1 + � �� �
6 𝐶𝐶 6 6
1 𝑖𝑖 1 𝑖𝑖 1
⇒ 7�54� = 1 + � � ⇒ 7�54� − 1 = ⇒ 𝑖𝑖 = 6 �7�54� − 1�
6 6
∴ 𝑖𝑖 = 0.220155101(100) 𝑖𝑖. 𝑒𝑒 ∴ 𝑖𝑖 = 22.01551014% Comentado [M45]:

Interpretation:
The annual interest rate capitalizable by bimestres ∴ 𝑖𝑖 = 0.220155101(100) 𝑖𝑖. 𝑒𝑒 ∴ 𝑖𝑖 =
22.01551014%
Comentado [M46]:

9. - What day should Edgar $ 31,700 invest to dispose of $ 53,600.00on March 01?
Assume that the investment generates 19.7% compound interest by weeks.
Data:

𝐶𝐶 = $31,700
𝑀𝑀 = $53,600
𝑖𝑖 = 19.7%
𝑝𝑝 = 52 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑛𝑛 =?
Solution:

𝑀𝑀 = 𝐶𝐶(1 + 1�𝑛𝑛)𝑛𝑛𝑛𝑛
536
. 197 𝑛𝑛𝑛𝑛 317
53,600 = 31,700 � �] ⇒ 𝑛𝑛𝑛𝑛 = 𝐼𝐼𝐼𝐼 � 5219 �
52 𝑖𝑖𝑖𝑖
52
53,600 . 197 𝑛𝑛𝑛𝑛
− [1 + � �]
31,700 52
 536 52.197 𝑛𝑛𝑛𝑛 Comentado [M47]:
=[ ]
317 52
∴ 𝑛𝑛𝑛𝑛 (7) = 138.9024717 (7)
∴ 𝑛𝑛𝑛𝑛 (7) = 972.3173017 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑 ≅ 972 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 = 360 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
972
⟹ = 2.7 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
360
0.7 (12) = 8.4 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
0.4 (30) = 12 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑

Interpretation:
June 19 is the day that Edgar should $ 31,700 invest to dispose of $ 53,600.00 on
March 01.
Comentado [M48]:

10. What day should Andres $ 67,900 invest to dispose of $ 71,800.00 on June
11?
Assume that the investment generates 11.3% compound interest by weeks.
Data:

𝐶𝐶 = 67,900
𝑀𝑀 = 71,800
𝑖𝑖 = 11.3%
Solution:

𝑀𝑀 = 𝐶𝐶(1 + 1�𝑛𝑛)𝑛𝑛𝑛𝑛
71,800 0.113 𝑛𝑛𝑛𝑛 71,800 0.113
⇒ = (1 + � �) = 𝐼𝐼𝐼𝐼 � � = 𝑛𝑛𝑛𝑛 + 𝑖𝑖𝑖𝑖(1 + � �)
67,900 52 67,900 52
71,800
67,900
𝑛𝑛𝑛𝑛 = 𝐼𝐼𝐼𝐼 �
1 + 0.113 �
52

∴= 25.72808188 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
0.72808188(7) = 5.09657316𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
25 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤 𝑎𝑎𝑎𝑎𝑎𝑎 5 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
180 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑 ⇒ 11 𝐽𝐽𝐽𝐽𝐽𝐽𝐽𝐽 ⇒ 180 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑
Interpretation
December 13th is the day that Andres should $ 67,900 invest to dispose of $
71,800.00 on June 11.
Comentado [M49]:

11. What is the annual capitalizable rate per semester equivalent to 15.77% per year
composed by months?

Data:

𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 15.77%
𝑛𝑛𝑛𝑛 = 12
Solution:
2 0.1577 12
𝑖𝑖
⟹ 𝑚𝑚1 =𝑐𝑐 �1 + � �� ⟹ 𝑚𝑚2 = 𝐶𝐶 = �1 + � Comentado [M50]:
2 12
��
Comentado [M51]:
⇔ 𝑚𝑚1= 𝑚𝑚2

𝑖𝑖 2 0.1577 12 𝑐𝑐 Comentado [M52]:

: 𝑐𝑐 �1 + � �� = 𝑐𝑐 �1 + � �� : = 1
2 12 𝑐𝑐
1 1
𝑖𝑖 2 0.1577 12 1 𝑖𝑖 2 2 0.1577 12 2
⟹ �1 + � �� = �1 + � �� : 2 �2� = 1 ⟹ �1 + � � � = �1 + � � �
2 12 2 12

𝑖𝑖 0.1577 6 𝑖𝑖 0.1577 6
⟹ 1 + � � = �1 + � �� ⇒ � � = �1 + � �� − 1
2 12 2 12
0.1577 6
∴ 𝑖𝑖 = 2 ��1 + � �� − 1�
12

∴ 𝑖𝑖 = 0.162973 𝑖𝑖. 𝑒𝑒 ∴= 16.297287%

Interpretation:
The annual capitalizable rate per semester equivalent to 15.77% per year composed
by months is ∴ 𝑖𝑖 = 0.162973 𝑖𝑖. 𝑒𝑒 ∴= 16.297287% Comentado [M53]:

12. What is the annual capitalizable rate quarterly equivalent to 14.02% per year
composed by semesters?
Data:
 𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 4 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 14.02% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎
𝑛𝑛𝑛𝑛 = 4

Solution:
4 0.1402 2
𝑖𝑖 Comentado [M54]:
⟹ 𝑚𝑚1 =𝑐𝑐 �1 + � �� ⟹ 𝑚𝑚2 = 𝐶𝐶 = �1 + � ��
4 2
Comentado [M55]:
⇔ 𝑚𝑚1= 𝑚𝑚2

𝑖𝑖 4 0.1402 2 𝑐𝑐
𝑐𝑐 �1 + � �� = 𝑐𝑐 �1 + � �� ∶ =1
4 2 𝑐𝑐
𝑖𝑖 2 0.1402 12 1
⟹ �1 + � �� = �1 + � �� ∶ 4� � = 1
4 2 4
1 1
𝑖𝑖 4 4 0.1402 2 4
⟹ �1 + � � � = �1 + � � �
4 2

𝑖𝑖 0.1402 2 𝑖𝑖 0.1420 2
⟹ 1 + � � = �1 + � �� ⇒ � � = �1 + � �� − 1
4 2 4 2
0.1402 2
∴ 𝑖𝑖 = 2 ��1 + � �� − 1�
2

∴ 𝑖𝑖 = 0.290228 𝑖𝑖. 𝑒𝑒: 𝑖𝑖 ∴ 29.0228% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎

Interpretation:
The annual capitalizable rate quarterly equivalent to 14.02% per year composed by
semesters is ∴ 𝑖𝑖 = 0.290228 𝑖𝑖. 𝑒𝑒: 𝑖𝑖 ∴ 29.0228% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎

Comentado [M56]:

13. What is more convenient for the purposes of banking institution: to lend your
money with interest of 13.77% per year composed by weeks, or to lend in with
15.01% capitalizable by semesters?
a) Compare the options by obtaining the compound rate per semester, equivalent to
13.77% capitalizable per week.
Data:
𝑖𝑖 = 13.77
𝑝𝑝 = 52 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤 = 2 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Solution:
 0.1377 52
⇒ 𝑀𝑀1 = (1 + � �)
52
𝑖𝑖 0.1377
⇒ 𝑀𝑀1 = 𝐶𝐶(1 + � �)2 = 𝐶𝐶(1 + � 26
�)
2 52
𝑖𝑖 0.1377 26
= [1 + � �]
2 52
0.1377 26
: 2{[1 + � )� − 1}
52
∴ 𝑖𝑖 = 14.23560495% 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠

Comentado [M57]:

b) Compare the options by obtaining the compound rate of week, equivalent to

15.01% capitalized semi-annually.
Data:
𝑖𝑖 = 15.01 %
𝑝𝑝 = 2 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠 = 52 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Comentado [M58]:

Solution:

0.1501 2
⇒ 𝑀𝑀2 = 𝐶𝐶[1 + � �]
2
𝑖𝑖 0.1501 2
⇒ 𝑀𝑀2 = 𝐶𝐶[1 + � �]52 = 𝐶𝐶[1 + ( )]
52 2
𝑖𝑖 . 1501 1
⇒ 1 + � � = [1 + � �]26 − 1
52 2
. 1501 1
: = 52{[1 + � �]26 − 1
2
∴ 𝑖𝑖 = 14.49359546% 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
Interpretation:
The most convenient is the second option.
14. To invest a capital, Carlos has the following options:
 Fixed-term investment with interest of 4.76% capitalizable by semesters.
 Certificates that pay 3.99% capitalizable each week.
 Bonds that earn 4.55% for months.
Assuming that they all offer the same liquidity. What is the best investment option?
A) Find the annual rate of the first two options that are capitalized with the
frequency of the third.
 B) Find the annual rate of the last two options that are capitalized with the
frequency of the first.
Comentado [M59]:

A) 1)
Data:
𝑖𝑖 =?
𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Solution:
M=𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀1𝑠𝑠 =𝑐𝑐[1 + (0.0476
2 )]2 Comentado [M60]:
Comentado [M61]:
CONVERT IT TO MONTHS
𝑖𝑖
𝑀𝑀 = 𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀1𝑚𝑚 =𝑐𝑐[1 + (12 )]2

⇔ 𝑚𝑚1𝑠𝑠 = 𝑚𝑚1𝑚𝑚
⇒ 𝑐𝑐[1 + (0.0476
2
𝑖𝑖
)]2 = 𝑐𝑐[1 + (12 )]12
𝑖𝑖
⇒ [1 + (0.0476
2
𝑖𝑖
)]2 = 𝑐𝑐[1 + (12 )]12 : 12(12)=1

⇒ {[1 + (0.0476
2
𝑖𝑖
)]2 }1/2 = {[1 + (12 )]12 }1/2
𝑖𝑖 𝑖𝑖
⇒ [1 + (0.0476
2 )]1/6 = 1+(12) ⇒ 12=[1 + (0.0476
2 )]1/6-1

𝑖𝑖 = 12{[1 + (0.0476
2 )]1/6 − 1}
⇒ 𝑖𝑖 = 0.04713471846
∴ 𝑖𝑖 = 4.713471846%

2)
Data:
𝑖𝑖 = 3.99% 𝑓𝑓𝑓𝑓𝑓𝑓 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑝𝑝 = 52 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Solution:
M=𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀2𝑤𝑤 =𝑐𝑐[1 + (0.0399
52 )]52

CONVERT IT TO MONTHS.
 𝑖𝑖
M-𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀2𝑚𝑚 =𝑐𝑐[1 + (12 )]12

⇔ 𝑚𝑚1𝑤𝑤𝑤𝑤 = 𝑚𝑚1𝑚𝑚
⇒ 𝑐𝑐[1 + (0.0399
52
𝑖𝑖
)]52 = 𝑐𝑐[1 + (12 )]12
𝑖𝑖
⇒ [1 + (0.0399
52
𝑖𝑖
)]52 = [1 + (12 )]12 : 12( )=1
12

⇒ {[1 + (0.0399
52
𝑖𝑖
)]52 }1/2 = {[1 + (12 )]12 }1/2
𝑖𝑖 𝑖𝑖
⇒ [1 + (0.0399
52 )]13/3 = 1+(12) = 12
=[1 + (0.0399
52 )]13/3 -1

𝑖𝑖 = 12{[1 + (0.0399
52 )]13/3 − 1}
⇒ 𝑖𝑖 = 0.03995105642
∴ 𝑖𝑖 = 3.995105642%

3)
The first pay 4.55% by months
𝐼𝐼𝐹𝐹𝐹𝐹= 4.71347184%> 𝐼𝐼𝐵𝐵= 4.55%> 𝐼𝐼𝑐𝑐= 3.995105642% Comentado [M62]:
Comentado [M63]:
Interpretation:
Comentado [M64]:
THE BEST OPTION IS THE FIXED –TERM.
Comentado [M65]:

B) 1)
Data:
𝑖𝑖 = 3.99% 𝑓𝑓𝑓𝑓𝑓𝑓 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑝𝑝 = 52 𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤𝑤
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Solution:
M=𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀1𝑠𝑠 =𝑐𝑐[1 + (0.0399
2 )]52 Comentado [M66]:
Comentado [M67]:
CONVERT IT TO SEMESTERS
𝑖𝑖 =?
𝑝𝑝 = 2 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Comentado [M68]:

M=𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀1𝑠𝑠 =𝑐𝑐[1 + (𝑖𝑖2 )]2

⇔ 𝑚𝑚1𝑤𝑤 = 𝑚𝑚1𝑠𝑠
 ⇒ 𝑐𝑐[1 + (0.0399
52 )]52 = 𝑐𝑐[1 + (𝑖𝑖2 )]2
𝑖𝑖
⇒ [1 + (0.0399
52 )]52 = 𝑐𝑐[1 + (𝑖𝑖2 )]2 : 12(2)=1

⇒ {[1 + (0.0399
52 )]52 }1/2 = {[1 + (𝑖𝑖2 )]2 }1/2
𝑖𝑖 𝑖𝑖
⇒ [1 + (0.0399
52 )]26 = 1+(2) ⇒ 2=[1 + (0.0399
52 )]26-1

𝑖𝑖 = 2{[1 + (0.0399
52 )]26 − 1}
𝑖𝑖 = 0.04028505427
∴ 𝑖𝑖 = 4.028505427%

2)
Data:
𝑖𝑖 = 4.55% 𝑓𝑓𝑓𝑓𝑓𝑓 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠.
𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

Solution:
0.0455 12
M=𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀2𝑤𝑤 =𝑐𝑐[1 + (12 )]

CONVERT IT TO SEMESTERS.
𝑖𝑖 =?
𝑝𝑝 = 2 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

M-𝑐𝑐[1 + (𝑖𝑖𝑝𝑝 )]𝑛𝑛𝑛𝑛 ⇒ 𝑀𝑀2𝑠𝑠 =𝑐𝑐[1 + (𝑖𝑖2 )]2

⇔ 𝑚𝑚1𝑤𝑤𝑤𝑤 = 𝑚𝑚1𝑠𝑠
0.0455 12
⇒ 𝑐𝑐[1 + (12 )] = 𝑐𝑐[1 + (𝑖𝑖2 )]2 Comentado [M69]: ¿????????????’

0.0455 12 𝑖𝑖
⇒ [1 + (12 )] = [1 + (𝑖𝑖2 )]2 : 12(2)=1
0.0455 12 1/2
⇒ {[1 + (12 )] } = {[1 + (𝑖𝑖2 )]12 }1/2
0.0455 6 𝑖𝑖 𝑖𝑖
⇒ [1 + (12 )] = 1+(2) = 2=[1 + (0.0455
2 )]6-1
0.0455 6
⇒ 𝑖𝑖 = 2{[1 + (12 )] − 1}
∴ 𝑖𝑖 = 0.04593348877
∴ 𝑖𝑖 = 4.593348877%

3)
The first pay 4.76% by semesters
𝐼𝐼𝐹𝐹𝐹𝐹= 4.76%> 𝐼𝐼𝐵𝐵= 4.593348877%> 𝐼𝐼𝑐𝑐= 4.0285054%
Interpretation:
THE BEST OPTION IS THE FIXED –TERM.
Examples:

1. We invested a capital of $ 250,000 at an annual interest rate of 6% for a certain

time, it has generated interest of $ 10,000, how long has it been invested?
Data:
𝐶𝐶 = $250, 000
𝑖𝑖 = 6% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.06
𝐼𝐼 = $10, 000
𝑛𝑛 =?
Solution:
: 𝐼𝐼 = 𝐶𝐶(𝑖𝑖𝑖𝑖)
10,000 = 250,000[0.06(𝑛𝑛)]
10,000
= 0.06(𝑛𝑛)
250,000
10,000
𝑛𝑛 =
[250,000(0.06)]
𝑛𝑛 = 0.66 ∗ 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑛𝑛 = 7.9𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠 ≅ 8𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Interpretation:
The time during which the capital has been invested is 8 months.

2. $ 2,000 deposits are made every beginning of the month, for a year. If the interest
rate is 24% compounded monthly, it will determine the amount at the end of the
year.
Data:

𝐶𝐶 = $2, 000
𝑖𝑖 = 24% 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚 = 0.24
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑀𝑀 =?

Solution:

Comentado [M70]:
𝒊𝒊
∶ 𝑴𝑴 = 𝑪𝑪[𝟏𝟏 + � �]𝒏𝒏𝒏𝒏
𝒑𝒑
 0.24 12
⇒ 𝑀𝑀 = 2,000[1 + � �]
12
∴ 𝑀𝑀 = $2,536.483 589 125
Interpretation:
At the end of the year if our money where deposit at the beginning of the year with
an interest rate of 24% monthly we will have $2,536.483 589 125 at the end of the
year
Comentado [M71]:

3. A person deposits $ 1,000 each end of the month for a year. If the interest rate
is 24% compounded monthly, find the total amount you will have at the end of
the year.
Data:
𝐶𝐶 = $1, 000
𝑖𝑖 = 24% 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚 = 0.24
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑀𝑀 =?
Solution:

𝑖𝑖
∶ 𝑀𝑀 = 𝐶𝐶[1 + � �]𝑛𝑛𝑛𝑛
𝑝𝑝

0.24 12
⇒ 𝑀𝑀 = 1,000[1 + � �]
12
∴ 𝑀𝑀 = $1,268.241 794 562
Interpretation:
At the end of the year we will have $1,268.241 794 562with and interest rate of 24%
monthly.
Comentado [M72]:

4. A bank loan for authorization and accreditation is contracted for 150,000 pesos.
The payment term is 3 years. The interest rate is 20% per annum, convertible
every six months. What is the amount that must be paid if it is decided to cancel
it in advance after 15 months?
Data:
𝐶𝐶 = 150,000
𝑖𝑖 = 0.10
 15
𝑛𝑛 =
6
Solution:
𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛
15
⇒ 𝑀𝑀 = 150,000(1 + 0.10) 6
∴ 𝑀𝑀 = $190,358.81
Interpretation:
The amount that must be paid if it is decided to cancel it in advance after 15 months
is ∴ 𝑀𝑀 = $190,358.81

5. A bank loan of $ 1,500,000 is obtained for a term of one year and with interest of
12% convertible quarterly. What is the amount to be paid?
Data:
𝐶𝐶 = 1,500,000
0.12
𝑖𝑖 =
4
𝑛𝑛 = 4
Solution:
𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛
⇒ 𝑀𝑀 = 1,500,000(1 + 0.03)4
∴ 𝑀𝑀 = $1,688,263.22
Interpretation:
The amount to be paid is ∴ 𝑀𝑀 = $1,688,263.22
Comentado [M73]:

6. What is the amount of a principal of $10,000, with an annual interest rate of

18% in 6 years?
Data:
𝐶𝐶 = $10,000
𝑖𝑖 = 18% ⟹ 𝑖𝑖 = 0.18
𝑛𝑛 = 6 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
Solution:
 ∶ 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛 ⟹ 𝑀𝑀 = $10,000(1 + 0.18)6
∴ 𝑀𝑀 = $26,995.54153024
Interpretation:
The amount of a principal of $10,000, with an annual interest rate of 18% in 6 years
is ∴ 𝑀𝑀 = $26,995.54153024

7. What is the interest on a principal of $85,000 at a rate of 22% for 12 years?

Data:
𝐶𝐶 = $85,000
𝑖𝑖 = 22%
𝑛𝑛 = 12 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦

 To know the interest rate, first the amount must be obtained, and then the
difference between the principal and the amount must be calculated.

∶ 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛 ⟹ 𝑀𝑀 = $85,000(1 + 0.22)12

∴ 𝑀𝑀 = $924,138.138891448

 Then, once the amount is known, it is possible to know the interest earned
over the 12 years.
∶ 𝐼𝐼 = $924,138.138891448 − $85,000
∴ 𝐼𝐼 = $839,138.138891448
8. Calculate the interest produced by $ 2, 800 at 20% per annum for 4 years?
Data:
𝐼𝐼 = ?
𝐶𝐶 = $2, 800
𝑖𝑖 = 20% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.20
𝑛𝑛 = 4 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
Solution:

: 𝐼𝐼 = 𝐶𝐶𝐶𝐶𝐶𝐶
⟹ 𝐼𝐼 = (2, 800)(0.20)(4)
∴ 𝐼𝐼 = $2, 240
Comentado [M74]:

Interpretation:
 The interest produced by $ 2, 800 at 20% per annum for 4 years is ∴ 𝐼𝐼 =
$2, 240
Comentado [M75]:

9. What is the annual capitalizable rate quarterly equivalent to 15.02% per year
composed by semesters?
Data:
𝑛𝑛 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑝𝑝 = 4 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 15.02% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎
𝑛𝑛𝑛𝑛 = 4
Solution:
𝑖𝑖 4
⟹ 𝑚𝑚1=𝑐𝑐 �1 + �4��

0.1502 2
⟹ 𝑚𝑚2 = 𝐶𝐶 = �1 + � ��
2
⇔ 𝑚𝑚1= 𝑚𝑚2

𝑖𝑖 4 0.1502 2 𝑐𝑐
𝑐𝑐 �1 + � �� = 𝑐𝑐 �1 + � �� : = 1
4 2 𝑐𝑐
𝑖𝑖 2 0.1502 12 1
⟹ �1 + � �� = �1 + � �� : 4 � � = 1
4 2 4
1 1
𝑖𝑖 4 4 0.1502 2 4
⟹ �1 + � � � = �1 + � � �
4 2

𝑖𝑖 0.1502 2 𝑖𝑖 0.1520 2
⟹ 1 + � � = �1 + � �� ⇒ � � = �1 + � �� − 1
4 2 4 2
0.1502 2
∴ 𝑖𝑖 = 2 ��1 + � �� − 1�
2

∴ 0.31168002 𝑖𝑖. 𝑒𝑒: 𝑖𝑖 ∴ 31.168002% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 Comentado [M76]:

Comentado [M77]:
Interpretation:
The annual capitalization rate per quarterly equivalent to 15.02 % per year is:
31.168002%
10. What is the annual compounding rate per semester equivalent to 10.77% per
annual compounded by months?
Data:
 𝑛𝑛 = 1
𝑝𝑝 = 12
𝑖𝑖 = 10.77%
𝑛𝑛𝑛𝑛 = 12
Solution:
2
𝑖𝑖 Comentado [M78]:
⟹ 𝑚𝑚1=𝑐𝑐 �1 + �2��

0.1077 12 Comentado [M79]:

⟹ 𝑚𝑚2 = 𝐶𝐶 = �1 + � ��
12

⇔ 𝑚𝑚1= 𝑚𝑚2 Comentado [M80]:

𝑖𝑖 2 0.1077 12 𝑐𝑐
𝑐𝑐 �1 + � �� = 𝑐𝑐 �1 + � �� : = 1
2 12 𝑐𝑐
𝑖𝑖 2 0.1077 12 1
⟹ �1 + � �� = �1 + � �� : 2 � � = 1
2 12 2
1 1
𝑖𝑖 2 2 0.1077 12 2
⟹ �1 + � � � = �1 + � � �
2 12

𝑖𝑖 0.1077 6 𝑖𝑖 0.1077 6
⟹ 1 + � � = �1 + � �� ⇒ � � = �1 + � �� − 1
2 12 2 12
0.1077 6
∴ 𝑖𝑖 = 2 ��1 + � �� − 1�
12

0.1077 6
∴ 𝑖𝑖 = 2 ��1 + � �� − 1�
12

∴ 𝒊𝒊 = 𝟎𝟎. 𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏 𝒊𝒊. 𝒆𝒆 ∴= 𝟏𝟏𝟏𝟏. 𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎𝟎

Interpretation:
The annual capitalization rate per semester equivalent to 10.77% per year is:
11.014563177

Comentado [M81]:

11. What amount is collected after three years, if $ 1,000,000 is deposited in an

institution that capitalizes at a compound interest rate of 20% quarterly?
Data:
𝑛𝑛 = 12 quarterly
𝑖𝑖 = 20% 𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞 = 0.20
𝐶𝐶 = $1, 000, 000
Solution:
∶ 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛 ⟹ 𝑀𝑀 = 1, 000, 000 [1 + 0.20]12

∴ 𝑀𝑀 = 8, 916, 100.4482
Interpretation:
The amount collected after three years is ∴ 𝑀𝑀 = 8, 916, 100.4482
Comentado [M82]:

12. How much should I invest today to accumulate $ 20,000 within 120 days in a
credit institution that pays a nominal annual rate of 24% with daily compounding?
Data:
𝑛𝑛 = 120 𝑑𝑑𝑑𝑑𝑑𝑑𝑑𝑑

𝑖𝑖 = 24 % 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠 = 0.24�360

𝑀𝑀 = $20, 000
Comentado [M83]:

Solution:
𝑀𝑀 20, 000
∶ 𝐶𝐶 = ⟹ 120
(1 + 𝑖𝑖)𝑛𝑛 �1 + 0.24�360�

∴ 𝐶𝐶 = $18, 462.82
Interpretation:
I invest $18, 462.82 today for accumulate $20000 in 120 days.

Comentado [M84]:

13. Assume that $15,356 was deposited in a bank account that pays 5.4% compound
annual interest per month.
 a) What will be the amount at the end of the one year and de nine months?
Data:
𝐶𝐶 = $15,356
𝑖𝑖 = 5.4% = 0.054%
𝑛𝑛 = 22 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Solution:
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛
0.054 22
⇒ 𝑀𝑀 = 15,356 �1 + � ��
12
∴ 𝑀𝑀 = $16,950.277292654
Interpretation:
The amount at the end of the one year and de nine months is ∴ 𝑀𝑀 = Comentado [M85]:
$16,950.277292654

14. Assume that $125,638 was deposited in a bank account that pays 18.5%
compound annual interest per month.
a) What will be the amount at the end of the two years and de six months?
Data:
𝐶𝐶 = 125,638
𝑖𝑖 = 18.5% = 0.185
𝑛𝑛 = 30 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Solution:
: 𝑀𝑀 = 𝐶𝐶(1 + 𝑖𝑖)𝑛𝑛
⇒ 𝑀𝑀 = 125,638[1 + (185)]22
∴ 𝑀𝑀 = $198,815.18562676654
Interpretation:
The amount at the end of the two years and de six months is
∴ 𝑀𝑀 = $198,815.18562676654
1. What is the interest on a principal of $65,000, with an interest rate of 11%,
with a term of 12 years?
Data:
𝐼𝐼 =?
𝐶𝐶 = $65,000
𝑖𝑖 = 11%
 𝑛𝑛 = 12 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 = 144 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Solution:
∶ 𝐼𝐼 = 𝐶𝐶[(1 + 𝑖𝑖) − 1]𝑛𝑛
⟹ 𝐼𝐼 = 65,000[(1 + 0.11) − 1]12
⟹ 𝐼𝐼 = 65,000 (3.13842837)
∴ 𝐼𝐼 = $203,997.8441
Interpretation:
The interest on a principal of $65,000, with an interest rate of 11%, with a term of 12
years is ∴ 𝐼𝐼 = $203,997.8441
Comentado [M86]:

1. What is the principal capital an amount of $203,997.8441 over 9 years at an

interest rate of 7.5% per quarter?
Data:
𝐶𝐶 =?
𝑀𝑀 = $203,997.8441
𝑖𝑖 = 7.5% 𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞
𝑛𝑛 = 9 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 = 36 𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞𝑞
Solution:
∶ 𝐶𝐶 = 𝑀𝑀(1 + 𝑖𝑖)−𝑛𝑛
⟹ 𝐶𝐶 = 203,997.8441(1 + 0.075)−36
⟹ 𝐶𝐶 = 203,997.8441(0.07401083)
∴ 𝐶𝐶 = $15,098.049760051
Interpretation:
The principal capital an amount of $203,997.8441 over 9 years at an interest rate of
7.5% per quarter is ∴ 𝐶𝐶 = $15,098.049760051
 Laboratory #3

1. A company has proposed to accumulate a find with the purpose of the replacing
in 3 years a computer equipment that is thought to be obsolete by that date. For this,
it makes quarterly deposits of $42,278 in an account that pays 12% annually and
capitalizes interest every 90 days. It is believed that the equipment will cost $600,000
within 3 years.

A. Will the deposit made by the company be sufficient?

∶ 𝑆𝑆𝑆𝑆 = 𝑅𝑅1(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 + 𝑅𝑅2(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + 𝑅𝑅3(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−3 + ⋯ + 𝑅𝑅𝑛𝑛−1 (1 + 𝑖𝑖𝑖𝑖)1 + 𝑅𝑅𝑅𝑅

⇒ 𝑅𝑅𝑅𝑅 + 𝑅𝑅𝑛𝑛−1 (1 + 𝑖𝑖𝑖𝑖)1 + ⋯ + 𝑅𝑅3(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−3 + 𝑅𝑅2(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + 𝑅𝑅1(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1

⇔ 𝑅𝑅1 = 𝑅𝑅𝑛𝑛 = 𝑅𝑅 (2)

⇒ 𝑆𝑆𝑆𝑆] = 𝑅𝑅 + 𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)1 + ⋯ + 𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−3 + 𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + 𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1

⇒ 𝑆𝑆𝑆𝑆] = 𝑅𝑅[1 + (1 + 𝑖𝑖𝑖𝑖)1 + (1 + 𝑖𝑖𝑖𝑖)2 + ⋯ + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 ] (3)

Multiply equation 3 by (1+ip)

(1 + 𝑖𝑖𝑖𝑖)𝑆𝑆𝑆𝑆] = (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅[1 + (1 + 𝑖𝑖𝑖𝑖)1 + (1 + 𝑖𝑖𝑖𝑖)2 + ⋯ + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 ]

(1 + 𝑖𝑖𝑖𝑖)𝑆𝑆𝑆𝑆] = (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅[1 + (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)1 + (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)2 + ⋯

+ (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 ]

(1 + 𝑖𝑖𝑖𝑖)𝑆𝑆𝑆𝑆] = (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅 + (1 + 𝑖𝑖𝑖𝑖)2 𝑅𝑅 + (1 + 𝑖𝑖𝑖𝑖)3 𝑅𝑅 + ⋯ + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 𝑅𝑅 +

(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 𝑅𝑅 (4)

Subtract (3)-(4)

𝑆𝑆𝑆𝑆] − (1 − 𝑖𝑖𝑖𝑖)𝑆𝑆𝑆𝑆]
= 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅 + (1 + 𝑖𝑖𝑖𝑖)𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)2 𝑅𝑅 + (1 + 𝑖𝑖𝑖𝑖)2 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)3 𝑅𝑅
+ ⋯ + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 + (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−1 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 𝑅𝑅

𝑆𝑆𝑆𝑆] − (1 + 𝑖𝑖𝑖𝑖)𝑆𝑆𝑆𝑆] = 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 𝑅𝑅 ⇒ [1 − (1 + 𝑖𝑖𝑖𝑖)]𝑆𝑆𝑆𝑆] = 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 𝑅𝑅

⟹ [1 − 1 − 𝑖𝑖𝑖𝑖]𝑆𝑆𝑆𝑆] = 𝑅𝑅 − (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 𝑅𝑅 ⟹ −𝑖𝑖𝑖𝑖𝑖𝑖𝑖𝑖 = −𝑅𝑅[(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1]

⟹ 𝑖𝑖𝑖𝑖𝑖𝑖𝑖𝑖] = 𝑅𝑅[(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1]

 (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1
∴ 𝑆𝑆𝑆𝑆] = 𝑅𝑅[ ]
𝑖𝑖𝑖𝑖

Data:

𝑅𝑅 = $42,278

𝑖𝑖𝑖𝑖 = 0.12

𝑛𝑛 = 36

Solution:

(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1
⟹ 𝑆𝑆36 ] = 𝑅𝑅 � �
𝑖𝑖𝑖𝑖

(1 + 0.12)36 − 1
⟹ 𝑆𝑆36 = 42,278 � �
0.12

⟹ 𝑆𝑆36 ] = 20,482,131.62

∴ $20,482,131.62

Interpretation:

We can say that it overpass the value of the stablished cost at the end of three years,
being this new amount of $20,482,131.62

2. A family has 12 monthly payments of $8500 of a mortgage loan pending and

wishes to settle the debt to release the mortgage.

a) How much will you have to pay if the interest rate charged by the bank is 22%
annual capitalizable monthly?

Data:

𝑅𝑅 = $8500

𝑛𝑛 = 12

𝑖𝑖𝑖𝑖 = 22% = 0.22

Solution

𝑅𝑅1 𝑅𝑅2 𝑅𝑅3 𝑅𝑅𝑅𝑅 − 1 𝑅𝑅𝑅𝑅

𝐴𝐴𝑛𝑛] = + + + ⋯+ 𝑛𝑛−1 + 𝑛𝑛 (1)
(1 + 𝑖𝑖𝑝𝑝 )1 (1 + 𝑖𝑖𝑝𝑝 )2 (1 + 𝑖𝑖𝑝𝑝 )3 �1 + 𝑖𝑖 � �1 + 𝑖𝑖𝑝𝑝 � 𝑝𝑝

⇔ 𝑅𝑅1 = ⋯ 𝑅𝑅𝑅𝑅 = 𝑅𝑅(2)

𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅
⇒ 𝐴𝐴𝑛𝑛] = + + + ⋯+ +
(1 + 𝑖𝑖𝑝𝑝 )1 (1 + 𝑖𝑖𝑝𝑝 )2 (1 + 𝑖𝑖𝑝𝑝 )3 (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛

1 2 𝑛𝑛
1 1 1
⇒ 𝐴𝐴𝑛𝑛] = 𝑅𝑅 �� � +� � + ⋯+ � � � (3)
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝

1
∶� � (3) 𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:
1 + 𝑖𝑖𝑝𝑝
1 2 𝑛𝑛
1 1 1 1 1
⇒� � 𝐴𝐴𝑛𝑛] = � � 𝑅𝑅 �� � +� � + ⋯+ � � �
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
1 2 𝑛𝑛
1 1 1 1 1 1 1
⇒� � 𝐴𝐴 = 𝑅𝑅 �� �� � +� �� � + ⋯+ � �� � �
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛] 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
2 3 𝑛𝑛+1
1 1 1 1
⇒� � 𝐴𝐴 = 𝑅𝑅 �� � +� � +⋯+ � � � (4)
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛] 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝

∶ (3) − (4) 𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:

1
⇒ 𝐴𝐴𝑛𝑛] − � � 𝐴𝐴
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛]
1 2 𝑛𝑛
1 1 1
= 𝑅𝑅 �� � +� � + ⋯+ � � �
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
2 3 𝑛𝑛+1
1 1 1
− 𝑅𝑅 �� � +� � + ⋯+ � � �
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝

1
⇒ 𝐴𝐴𝑛𝑛] − � � 𝐴𝐴
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛]
1 2 𝑛𝑛
1 1 1
= 𝑅𝑅 ��� � +� � +⋯+ � � �
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
2 3 𝑛𝑛+1
1 1 1
− �� � +� � + ⋯+ � � ��
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
 1
⇒ 𝐴𝐴𝑛𝑛] − � � 𝐴𝐴
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛]
1 2 2 3 𝑛𝑛
1 1 1 1 1
= 𝑅𝑅 �� � −� � +� � −� � + ⋯+ � �
1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
𝑛𝑛+1
1
−� � �
1 + 𝑖𝑖𝑝𝑝
1 𝑛𝑛+1
1 1 1
⇒ 𝐴𝐴𝑛𝑛] − � � 𝐴𝐴 = 𝑅𝑅 �� � −� � �
1 + 𝑖𝑖𝑝𝑝 𝑛𝑛] 1 + 𝑖𝑖𝑝𝑝 1 + 𝑖𝑖𝑝𝑝
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � 1 1 1
⇒� −� �� 𝐴𝐴𝑛𝑛] = 𝑅𝑅 �1 − � � �
�1 + 𝑖𝑖𝑝𝑝 � 1 + 𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 � 1 + 𝑖𝑖𝑝𝑝

1 + 𝑖𝑖𝑝𝑝 − 1 1 1
⇒� � 𝐴𝐴𝑛𝑛] = 𝑅𝑅 �1 − 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
𝑖𝑖𝑝𝑝 1 �1 + 𝑖𝑖𝑝𝑝 � 1
⇒� � 𝐴𝐴𝑛𝑛] = 𝑅𝑅 � 𝑛𝑛 − 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
𝑖𝑖𝑝𝑝 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛] = � � 𝑅𝑅 � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛] = 𝑅𝑅 � 𝑛𝑛 �
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
∴ 𝐴𝐴𝑛𝑛] = 𝑅𝑅 � 𝑛𝑛 � (5)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �

∴ 𝐴𝐴𝑛𝑛] = 𝑅𝑅𝑅𝑅𝑛𝑛] (6)

1 − (1 + 𝑖𝑖𝑖𝑖)−𝑛𝑛 1 − (1 + 𝑖𝑖𝑖𝑖)−𝑛𝑛
∶ 𝐴𝐴𝑛𝑛) = 𝑅𝑅 � � ⇒ 𝑅𝑅 � �=
𝑖𝑖𝑖𝑖 𝑖𝑖𝑖𝑖

1 − (1 + 0.22)−12
⇒ 𝐴𝐴𝑛𝑛 = 8500 � � = $35082.68397432
0.22

∴ 𝐴𝐴𝑛𝑛 = $35082.68397432
Interpretation:

The amount that the family is going to pay if the rate changes to 22% is going to be
$35082.68397432.

3. Karla gets married within 12 months and her wedding will cost $100,000. Your
family decides to deposit an equal amount of money monthly to ensure that that
amount is available within 12 months. Knowing that the interest rate paid by a bank
account is 1.59% monthly and is capitalized monthly.

a) What value is the deposit that Karla's family should make?

Data:

𝑆𝑆𝑛𝑛¬= $100,000, 𝑖𝑖𝑖𝑖 = 0.015, 𝑛𝑛 = 12

Solution:

(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1
: 𝑆𝑆𝑛𝑛¬= 𝑅𝑅 � �
𝑖𝑖𝑖𝑖
𝑖𝑖𝑝𝑝𝑆𝑆𝑛𝑛 ¬
: 𝑅𝑅 =
(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1
(0.015)($100,000).
⟹ 𝑅𝑅 =
(1 + 0.015)12 − 1

$1,500.00
⟹ 𝑅𝑅 = � �−1
1.1956181715

$1,500.00
⟹ 𝑅𝑅 =
1956181715

∴ 𝑹𝑹 = $𝟕𝟕, 𝟔𝟔𝟔𝟔𝟔𝟔. 𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗𝟗

Interpretation:

The family must deposit = $ 7,667.9992891151 monthly so that at the end of the 12
months Karla can get the 100,000 to be able to get married.
4. A commercial company that sells in payment is offering a plasma screen whose
cash value is a $6,200 with the following financing plan: $500 at the time of making
the purchase and 12 equal monthly payment starting 30 days later. If the interest
rate applicable to this type of operations is 2% monthly.

a) How much should the monthly payment be?

Data:

𝑅𝑅 = 6200

𝑖𝑖 = 500

𝑝𝑝 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠

𝑛𝑛 = 10

Solution:

𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅1 (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 + 𝑅𝑅2 (1 + 𝑖𝑖𝑖𝑖)𝑛𝑛−2 + ⋯ + 𝑅𝑅𝑛𝑛 �1 + 𝑖𝑖𝑝𝑝 �1 (1)

1 2 𝑛𝑛−1
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅𝑛𝑛 (1 + 𝑖𝑖𝑝𝑝 ) + 𝑅𝑅𝑛𝑛−1 (1 + 𝑖𝑖𝑝𝑝 ) + ⋯ + 𝑅𝑅2 (1 + 𝑖𝑖𝑝𝑝 ) + 𝑅𝑅1 (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛
⇔ 𝑅𝑅1 = ⋯ = 𝑅𝑅𝑛𝑛 = 𝑅𝑅 (2)
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 ) + 𝑅𝑅 = (1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 + 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛
1

⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 + 𝑅𝑅 = (1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 + 𝑅𝑅 �1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 � (3)
: (1+𝑖𝑖𝑝𝑝 )(3), 𝑤𝑤𝑤𝑤 𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜:
⇒ (1 + 𝑖𝑖𝑝𝑝 )𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 )[(1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + 𝑅𝑅(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 ]
⇒ (1 + 𝑖𝑖𝑝𝑝 )𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎
= 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )(1 + 𝑖𝑖𝑝𝑝 )1 + (1 + 𝑖𝑖𝑝𝑝 )(1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + (1 + 𝑖𝑖𝑝𝑝 )(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1
: (3) − (4), 𝑤𝑤𝑤𝑤 𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜𝑜:
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 − �1 + 𝑖𝑖𝑝𝑝 �𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎

= 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 + (1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 ]

−𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )2 + (1 + 𝑖𝑖𝑝𝑝 )3 + ⋯ + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 + �1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 �
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 − �1 + 𝑖𝑖𝑝𝑝 �𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎
= 𝑅𝑅{[(1 + 𝑖𝑖𝑝𝑝 )1 + (1 + 𝑖𝑖𝑝𝑝 )2 + ⋯ + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1 + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 ]
 −[(1 + 𝑖𝑖𝑝𝑝 )2 + (1 + 𝑖𝑖𝑝𝑝 )3 + ⋯ + �1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 + �1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 ��
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 − �1 + 𝑖𝑖𝑝𝑝 �𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎
= 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 − (1 + 𝑖𝑖𝑝𝑝 )2 + (1 + 𝑖𝑖𝑝𝑝 )2 − (1 + 𝑖𝑖𝑝𝑝 )3 + ⋯ + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛−1
−(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 + (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 − (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 ]
⇒ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 − �1 + 𝑖𝑖𝑝𝑝 �𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 − (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 ]

⇒ [1 − �1 + 𝑖𝑖𝑝𝑝 �𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 − (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 ]

⇒ [1 − 1 − 𝑖𝑖𝑝𝑝 ]𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )1 − (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 ]
⇒ −𝑖𝑖𝑝𝑝 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 �1 + 𝑖𝑖𝑝𝑝 �] ⇒ −𝑖𝑖𝑝𝑝 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = −𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 − �1 + 𝑖𝑖𝑝𝑝 �]
⇒ 𝑖𝑖𝑝𝑝 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅[(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 − �1 + 𝑖𝑖𝑝𝑝 �]
(1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛+1 − �1 + 𝑖𝑖𝑝𝑝 � (1 + 𝑖𝑖𝑝𝑝 )𝑛𝑛 − 1
∴ 𝑆𝑆𝑎𝑎𝑎𝑎𝑎𝑎 = 𝑅𝑅 � � = �1 + 𝑖𝑖𝑝𝑝 �𝑅𝑅 � �
𝑖𝑖𝑝𝑝 𝑖𝑖𝑝𝑝

Comentado [M87]:
𝑛𝑛−1
�1 + 𝑖𝑖𝑖𝑖� − �1 + 𝑖𝑖𝑖𝑖�
∴ 𝑆𝑆𝑆𝑆𝑆𝑆𝑆𝑆 = 𝑅𝑅 � �
𝑖𝑖𝑖𝑖

(1 + 6000)10−1 − (1 + (500)(12))
∴ 𝑆𝑆𝑆𝑆𝑆𝑆𝑆𝑆 = 6200 � �
(500)(12)

(1 + 6000)10−1 − (1 + 6000)
∴ 𝑆𝑆𝑆𝑆𝑆𝑆𝑆𝑆 = 6200 � �
6000

Comentado [M88]:

∴ 𝑆𝑆𝑆𝑆𝑆𝑆𝑆𝑆 = 6.257550037881

Interpretation:

The monthly payment will be of $6.25755003788 monthly

5. One person made several uninterrupted monthly deposits of s 140 each and
knows that the financial institution applied an annual interest rate of 18% (1.5%
monthly.

He currently has $ 2,335.50 in that account.

a) How much monthly deposits will you have made to reach that sum?

𝑅𝑅1 𝑅𝑅2 𝑅𝑅3 𝑅𝑅4 𝑅𝑅𝑛𝑛−1

𝐴𝐴𝑛𝑛⌉ = 1 + 2 + 3 + 4 +∙∙∙ + 𝑛𝑛−1
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑅𝑅𝑛𝑛
+ 𝑛𝑛 (1)
�1 + 𝑖𝑖𝑝𝑝 �

⟺ 𝑅𝑅1 = 𝑅𝑅2 = 𝑅𝑅3 = 𝑅𝑅4 =∙∙∙= 𝑅𝑅𝑛𝑛 = 𝑅𝑅

𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅
⟹ 𝐴𝐴𝑛𝑛⌉ = 1 + 2 + 3 + 4 +∙∙∙∙ + 𝑛𝑛 (2)
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� + � 2� + � 3� + � 4 � +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
∙ +� 𝑛𝑛 �� (3)
�1 + 𝑖𝑖𝑝𝑝 �

1
� � (3)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:
�1 + 𝑖𝑖𝑝𝑝 �

1
⟹� � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 �� �� 1� + � �� 2�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� �� 3� + � �� 4 � +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
∙ +� �� 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 2� + � 3� + � 4 � +∙∙∙ + � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 𝑛𝑛+1 �� (4)
�1 + 𝑖𝑖𝑝𝑝 �
(3) − (4)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:

1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 �= 𝑅𝑅 �� 1� + � 2� + � 3� + � 4 � +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
∙ +� 𝑛𝑛 ���
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
− 𝑅𝑅 �� 2� + � 3� + � 4 � +∙∙∙ + � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 𝑛𝑛+1 ��
�1 + 𝑖𝑖𝑝𝑝 �
1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� + � 2� + � 3� + � 4 � +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
∙� 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
− �� 2� + � 3� + � 4 � +∙∙∙ + � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � � 1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 𝑛𝑛+1 ���
� 1 + 𝑖𝑖𝑝𝑝 �
1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� − � 2� + � 2� − � 3�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� 3� − � 4� + � 4� − � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 𝑛𝑛 � − � 𝑛𝑛+1 �� �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 𝑛𝑛+1 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
⇒ �1 − � �� 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 1� � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
�1 + 𝑖𝑖𝑝𝑝 � 1 1 1
⇒ �� �−� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �1 − � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
 𝑛𝑛
1 + 𝑖𝑖𝑝𝑝 − 1 1 �1 + 𝑖𝑖𝑝𝑝 � 1
⇒ �� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �� 𝑛𝑛 � − � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
𝑖𝑖𝑝𝑝 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒� � 𝐴𝐴𝑛𝑛⌉ =� 1 � 𝑅𝑅 �� 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � �� 1 � 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � � 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 𝑛𝑛 �� (5)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
∴ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅𝑎𝑎𝑛𝑛⌉ (6)
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
𝑎𝑎𝑛𝑛⌉ = �� 𝑛𝑛 �� (7)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
Then, for the number of periods, we must clear n
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛 𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ �1 + 𝑖𝑖𝑝𝑝 � 1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ 1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹� 𝑛𝑛 � = ⟹ 𝑛𝑛 − 𝑛𝑛 = ⟹1− 𝑛𝑛 =
�1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 �1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅

1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ −𝑛𝑛 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉

⟹ 𝑛𝑛 =1− ⟹ �1 + 𝑖𝑖𝑝𝑝 � = 1 −
�1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹ −𝑛𝑛 × ln�1 + 𝑖𝑖𝑝𝑝 � = ln �1 − � �� (−)(−)
𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹ 𝑛𝑛 × ln�1 + 𝑖𝑖𝑝𝑝 � = −ln �1 − � ��
𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
−ln �1 − �
𝑅𝑅 ��
𝑛𝑛 =
ln�1 + 𝑖𝑖𝑝𝑝 �

Comentado [M89]:

𝑊𝑊ℎ𝑒𝑒𝑒𝑒𝑒𝑒 𝑖𝑖𝑝𝑝 = 0.015; 𝑅𝑅 = $140; 𝐴𝐴𝑛𝑛⌉ = $2335.50

𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ 0.015 ∗ $2,335.50

−ln �1 − �
𝑅𝑅 ��
−ln �1 − � 140 ��
𝑛𝑛 = ⟹ ⟹ ∴ 19.343081451 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
ln�1 + 𝑖𝑖𝑝𝑝 � ln(1 + 0.015)

 It would then take approximately 19 months Comentado [M90]: Otro tipo de letra
6. A commercial company is selling in monthly installments of $352.50 overdue a
product whose cash value is $3,200. If the interest rate applicable to that type of
credits is 1.8% monthly.

a) How many months will pass until the credit settlement?

0.018 Comentado [M91]:

𝑅𝑅 = 352.50; 𝑖𝑖𝑝𝑝 = = 0.0015 𝑆𝑆𝑛𝑛 = $3,200 𝑛𝑛 =?
12

�𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛 �
−𝑙𝑙𝑙𝑙 �1 − � 𝑅𝑅 ��
𝑛𝑛 =
𝑙𝑙𝑙𝑙�1 + 𝑖𝑖𝑝𝑝 �

(3200)
−𝑙𝑙𝑙𝑙 �1 − �(0.0015)
(352.50)��
⟹
𝑙𝑙𝑙𝑙(1 + 0.0015)

∴ 𝑛𝑛 = 9.14724240475225 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠

There will pass approximately 9 months.

Examples:

1. $ 2,000 deposits are made every beginning of the month, for a year. If the
interest rate is 24% compounded monthly, it will determine the amount at the
end of the year.

Data:
𝑅𝑅 = $2, 000
𝑛𝑛 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 0.24�12 = 0.02 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙
𝑝𝑝 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑆𝑆12 =?
Solution:
(1 + 𝑖𝑖𝑖𝑖)12 − 1
∶ 𝑆𝑆𝑛𝑛 = 𝑅𝑅[ ]
𝑖𝑖𝑖𝑖
(1 + 0.02)12 − 1
⇒ 𝑆𝑆𝟏𝟏𝟏𝟏 = 2,000[ ]
0.02
∴ 𝑆𝑆12 = $26,824.179456254
Interpretation:
At the end of the year we will have $26,824.179465254
 2. A person deposits $ 1,000 each end of the month for a year. If the interest
rate is 24% compounded monthly, find the total amount you will have at the
end of the year.
Data:
𝑅𝑅 = $1, 000
𝑛𝑛 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 0.24�12 = 0.02 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙
𝑝𝑝 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦
𝑆𝑆12 =?

Solution:
(1 + 𝑖𝑖𝑖𝑖)𝑛𝑛 − 1
∶ 𝑆𝑆𝑛𝑛 = 𝑅𝑅( )
𝑖𝑖𝑖𝑖
12
(1 + 0.02) − 1
⇒ 𝑆𝑆12 = 1000( )
0.02
∴ 𝑆𝑆12 = $13,412.09
Interpretation:
At the end of the year we will have like amount the quantity of $13,412.09

3. What is the amount of $ 20,000 per semester deposited over 4 and a half years
in a bank account that fields 12% compounded semester?
Solution:
(1 + 𝑖𝑖)𝑛𝑛 − 1
𝑀𝑀 = 𝑅𝑅
𝑖𝑖
Data:
𝑅𝑅 = 20,000

𝑖𝑖 = 0.12�2 = 0.06

𝑛𝑛 = 4.5(2) = 9
Solution:
(1.06)9 − 1
⇒ 𝑀𝑀 = 20,000
0.06
∴ 𝑀𝑀 = $229,826.32
Interpretation:
The amount of $ 20,000 per semester deposited over 4 and a half years in a bank
account that fields 12% compounded semester is ∴ 𝑀𝑀 = $229,826.32
4. Dr. González deposits $ 100 a month after his son is born. He continues to make
monthly deposits for that amount until the son turns 18, on that day, deliver the
accumulated as inheritance. If during the first 6 years of the child's life the account
paid 9% annually convertible monthly, and during the remaining 12 years it paid 1%
monthly, how much did the child receive at age 18?
Data 1:
𝑅𝑅 = $100

𝑖𝑖 = 0.09�12 = 0.0075

𝑛𝑛 = 18(12) = 216
Solution:
(1 + 𝑖𝑖)𝑛𝑛 − 1
𝑀𝑀 = 𝑅𝑅
𝑖𝑖
(1.0075)75 − 1
⇒ 𝑀𝑀 = 100
0.0075
∴ 𝑀𝑀 = $9,500.70
Data 2
𝑅𝑅 = $100

𝑖𝑖 = 0.12�12 = 0.01

𝑛𝑛 = 18(12) = 216
Solution:
(1.01)144 − 1
⇒ 𝑀𝑀 = 100
0.01
∴ 𝑀𝑀 = $31,906.15
⇒ 𝑀𝑀1 + 𝑀𝑀2
⇒ $9,500.70 + $31,906.15
∴ 𝑀𝑀 = $41,406.85
Interpretation:
When Dr. Gonzalez´s son is 18 years old, he will receive $441, 406.85
5. - What is the monthly income required to obtain $30,760.08 for 6 months if
invested at 12% compounded monthly?

𝑅𝑅1 𝑅𝑅2 𝑅𝑅3 𝑅𝑅4 𝑅𝑅5

𝐴𝐴𝑛𝑛⌉ = 1 + 2 + 3 + 4 + 5
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑅𝑅6
+ 6 (1)
�1 + 𝑖𝑖𝑝𝑝 �

⟺ 𝑅𝑅1 = 𝑅𝑅2 = 𝑅𝑅3 = 𝑅𝑅4 = 𝑅𝑅5 = 𝑅𝑅6 = 𝑅𝑅

⟹ 𝐴𝐴𝑛𝑛⌉
𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅
= 1+ 2+ 3+ 4+ 5
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑅𝑅
+ 6 (2)
�1 + 𝑖𝑖𝑝𝑝 �

⟹ 𝐴𝐴𝑛𝑛⌉
1 1 1 1 1
= 𝑅𝑅 �� 1� +� 2� + � 3� + � 4� +� 5�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 6 �� (3)
�1 + 𝑖𝑖𝑝𝑝 �

1
� � (3)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:
�1 + 𝑖𝑖𝑝𝑝 �

1
⟹� � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 �� �� 1� + � �� 2�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� �� 3� + � �� 4�
� 1 + 𝑖𝑖 𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � � 1 + 𝑖𝑖 𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� �� 5� + � �� 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
 ⟹ 𝐴𝐴𝑛𝑛⌉
1 1 1 1 1
= 𝑅𝑅 �� 2� + � 3� +� 4� +� 5� + � 6�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 7 �� (4)
�1 + 𝑖𝑖𝑝𝑝 �
(3) − (4)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:

1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 �� 1� +� 2� + � 3� + �
4�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 5� + � 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
− 𝑅𝑅 �� 2� + � 3� + � 4� + � 5�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 6� + � 7 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
� 1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� + � 2� + � 3� + � 4�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 5� + � 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
− �� 2� + � 3� + � 4� + � 5�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 6� + � 7 ���
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

Comentado [M92]: No dejar espacio

 1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� −� 2� +� 3� 2� − �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� 3� − � 4� + � 4� − � 5�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� 5� − � 6� + � 6� − � 7 �� �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 7 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
⇒ �1 − � �� 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 1� � 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
�1 + 𝑖𝑖𝑝𝑝 � 1 1 1
⇒ �� �−� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �1 − � 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
6
1 + 𝑖𝑖𝑝𝑝 − 1 1 �1 + 𝑖𝑖𝑝𝑝 � 1
⇒ �� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �� 6� − � 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
6
𝑖𝑖𝑝𝑝 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒� � 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �� 6 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
6
�1 + 𝑖𝑖𝑝𝑝 � 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � �� 1 � 𝑅𝑅 �� 6 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
6
1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � � 𝑅𝑅 �� 6 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖 � 𝑝𝑝
6
�1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 6 �� (5)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
∴ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅𝑎𝑎𝑛𝑛⌉ (6)
6
�1 + 𝑖𝑖𝑝𝑝 � − 1
𝑎𝑎𝑛𝑛⌉ = �� 6 �� (7)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �

6
�1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 6 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
6
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ �1 + 𝑖𝑖𝑝𝑝 �
∴ 𝑅𝑅 = � 6 � (8)
�1 + 𝑖𝑖𝑝𝑝 � − 1
Data:
𝐴𝐴𝑛𝑛⌉ = $30,760.80
𝑖𝑖𝑝𝑝 = 12% ⟹ 𝑖𝑖𝑝𝑝 = 0.12%
Solution:
6
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ �1 + 𝑖𝑖𝑝𝑝 � (0.01)($30,760.08)(1 + 0.01)6
⇒ 𝑅𝑅 = � 6 � ⟹ 𝑅𝑅 = � �
�1 + 𝑖𝑖𝑝𝑝 � − 1 (1 + 0.01)6 − 1

∴ 𝑅𝑅 = $5,307.60156389605
Interpretation:
Then you must make monthly payments of $5,307.60156389605 so that in 6 months
you can obtain $30,760.08.
Comentado [M93]:

6. How many payments must be made to accumulate $30,760.08, if $5,000 is

deposited monthly, with an interest rate of 12% compounded monthly?
𝑅𝑅1 𝑅𝑅2 𝑅𝑅3 𝑅𝑅4 𝑅𝑅𝑛𝑛−1
𝐴𝐴𝑛𝑛⌉ = 1+ 2+ 3+ 4 +∙∙∙ + 𝑛𝑛−1
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑅𝑅𝑛𝑛
+ 𝑛𝑛 (1)
� 1 + 𝑖𝑖𝑝𝑝 �

⟺ 𝑅𝑅1 = 𝑅𝑅2 = 𝑅𝑅3 = 𝑅𝑅4 =∙∙∙= 𝑅𝑅𝑛𝑛 = 𝑅𝑅

𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅 𝑅𝑅
⟹ 𝐴𝐴𝑛𝑛⌉ = 1 + 2 + 3 + 4 +∙∙∙∙ + 𝑛𝑛 (2)
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� + � 2� + � 3� + � 4� +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
∙ +� 𝑛𝑛 �� (3)
�1 + 𝑖𝑖𝑝𝑝 �

1
� � (3)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:
�1 + 𝑖𝑖𝑝𝑝 �
 1
⟹� � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 �� �� 1� + � �� 2�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� �� 3� + � �� 4 � +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
∙ +� �� 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 2� +� 3� + � 4 � +∙∙∙ +� 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 𝑛𝑛+1 �� (4)
�1 + 𝑖𝑖𝑝𝑝 �
(3) − (4)𝑎𝑎𝑎𝑎𝑎𝑎 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠:

1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1
= 𝑅𝑅 �= 𝑅𝑅 �� 1� + � 2� +� 3�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 4� +∙∙∙ + � 𝑛𝑛 ���
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1
− 𝑅𝑅 �� 2� + � 3� +� 4� +∙∙
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
∙ +� 𝑛𝑛 � + � 𝑛𝑛+1 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

Comentado [M94]:
 1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� + � 2� + � 3� +�4� +
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
∙∙∙ � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
− �� 2� + � 3� + � 4 � +∙∙∙ + � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1
+� 𝑛𝑛+1 ���
�1 + 𝑖𝑖𝑝𝑝 �
1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉
�1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
= 𝑅𝑅 ��� 1� − � 2� + � 2� − � 3�
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
+� 3� − � 4� + � 4� − � 𝑛𝑛 �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1
+� 𝑛𝑛 � −� 𝑛𝑛+1 �� �
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �

1 1 1
⟹ 𝐴𝐴𝑛𝑛⌉ − � � 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 𝑛𝑛+1 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
1 1 1 1
⇒ �1 − � �� 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 1� − � 1� � 𝑛𝑛 ��
� 1 + 𝑖𝑖 𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
�1 + 𝑖𝑖𝑝𝑝 � 1 1 1
⇒ �� �−� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �1 − � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
1 + 𝑖𝑖𝑝𝑝 − 1 1 �1 + 𝑖𝑖𝑝𝑝 � 1
⇒ �� �� 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �� 𝑛𝑛 � − � 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
𝑖𝑖𝑝𝑝 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒� � 𝐴𝐴𝑛𝑛⌉ = � 1 � 𝑅𝑅 �� 𝑛𝑛 ��
�1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � 1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � �� 1 � 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖 � �1 + 𝑖𝑖𝑝𝑝 �
𝑝𝑝
𝑛𝑛
1 �1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = � � 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
 𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
⇒ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 𝑛𝑛 �� (5)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
∴ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅𝑎𝑎𝑛𝑛⌉ (6)
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
𝑎𝑎𝑛𝑛⌉ = �� 𝑛𝑛 �� (7)
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
Then, for the number of periods, we must clear n:
𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1
⟹ 𝐴𝐴𝑛𝑛⌉ = 𝑅𝑅 �� 𝑛𝑛 ��
𝑖𝑖𝑝𝑝 �1 + 𝑖𝑖𝑝𝑝 �
𝑛𝑛 𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � − 1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ �1 + 𝑖𝑖𝑝𝑝 � 1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ 1
⟹� 𝑛𝑛 � = ⟹ 𝑛𝑛 − 𝑛𝑛 = ⟹1− 𝑛𝑛
�1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 �1 + 𝑖𝑖𝑝𝑝 � �1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 �1 + 𝑖𝑖𝑝𝑝 �
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
=
𝑅𝑅
1 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ −𝑛𝑛 𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹ 𝑛𝑛 = 1− ⟹ �1 + 𝑖𝑖𝑝𝑝 � = 1 −
�1 + 𝑖𝑖𝑝𝑝 � 𝑅𝑅 𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹ −𝑛𝑛 × ln�1 + 𝑖𝑖𝑝𝑝 � = ln �1 − � �� (−)(−)
𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
⟹ 𝑛𝑛 × ln�1 + 𝑖𝑖𝑝𝑝 � = −ln �1 − � ��
𝑅𝑅
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉
−ln �1 − � 𝑅𝑅 ��
𝑛𝑛 =
ln�1 + 𝑖𝑖𝑝𝑝 �

Data:
0.12
𝐴𝐴𝑛𝑛⌉ = $30,760.08; 𝑅𝑅 = $5,000; 𝑖𝑖𝑝𝑝 = 12% ⟹ 𝑖𝑖𝑝𝑝 = = 0.01
12
Solution:
𝑖𝑖𝑝𝑝 𝐴𝐴𝑛𝑛⌉ 0.01 ∗ $30,760.08
−ln �1 − � 𝑅𝑅 �� −ln �1 − � ��
$5,000
∶ 𝑛𝑛 = ⟹ 𝑛𝑛 =
ln�1 + 𝑖𝑖𝑝𝑝 � ln(1 + 0.01)

∴ 𝑛𝑛 = 6.381084730757 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
Interpretation:
It would then take approximately 6 months to accumulate $30,760.08.
 7. - Monthly and advance deposits are made for one year, at 18%
compounded monthly to obtain $ 10,587.47. Find the anticipated monthly
payment.
Data:
𝑛𝑛 = 1 year = 12 months
𝑖𝑖 = 18% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 = 0.015 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙
𝑆𝑆𝑛𝑛 = $10, 587.47
Solution:
𝑆𝑆𝑛𝑛 ∗ 𝑖𝑖 10, 587.47 ∗ 0.015
∶ 𝑅𝑅 = ⟹ 𝑅𝑅 =
(1 + 𝑖𝑖)[(1 + 𝑖𝑖)𝑛𝑛 − 1] (1 + 0.015)[(1 + 0.015)12 − 1]
∴ 𝑅𝑅 = $799.8493837 ≅ $800
Interpretation:
The anticipated monthly payment is

8. - At what annual interest rate, compounded monthly, from 10 advance

monthly installments of $ 400, will an amount of $ 4,723.12 accumulate?
Data:
𝑛𝑛 = 10 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 =?
𝑆𝑆𝑛𝑛 = $ 4,723.12
𝑅𝑅 = $ 400

Solution:
𝑆𝑆𝑛𝑛 ∗ 𝑖𝑖 (1 + 𝑖𝑖)𝑛𝑛+1 − 1 𝑆𝑆𝑛𝑛
: 𝑅𝑅 = 𝑛𝑛
⟹ = +1
(1 + 𝑖𝑖)[(1 + 𝑖𝑖) − 1] 𝑖𝑖 𝑅𝑅
(1 + 𝑖𝑖)10+1 − 1 4,723.12 (1 + 𝑖𝑖)11 − 1
⟹ = +1 ⟹ = 12.8078
𝑖𝑖 400 𝑖𝑖
∴ 𝑖𝑖 = 0.03 ≅ 3% 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙
⟹ 𝑖𝑖 = 0.03 (12) ⟹ 𝑖𝑖 = 0.36
∴ 𝑖𝑖 = 36% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑤𝑤𝑤𝑤𝑤𝑤ℎ 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙 𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐
Intepretation:
Annual interest rate is ∴ 𝑖𝑖 = 36% 𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎 𝑤𝑤𝑤𝑤𝑤𝑤ℎ 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙 𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐
Comentado [M95]:

9. What is the amount of $ 40,000 per semester deposited over 6 1/2 years
in a bank account that yields 16% per compound semester?
Data:
𝑅𝑅 = 40,000

𝑖𝑖 = 0.16�2 = 0.08

𝑛𝑛 = 6.5(2) = 13
Solution:
(1 + 𝑖𝑖)𝑛𝑛 − 1
𝑀𝑀 = 𝑅𝑅
𝑖𝑖

(1.08)13 − 1
⇒ 𝑀𝑀 = 40,000
0.08
∴ 𝑴𝑴 = $𝟖𝟖𝟖𝟖𝟖𝟖, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟖𝟖𝟖𝟖𝟖𝟖𝟖𝟖
Interpretation:
⇒The amount is = $ 859,811.8631 of the $ 40,000 deposited over 6 and a half years Comentado [M96]:
with 16% per compound semester.
10. What is the amount Mr. Márquez will receive at the end of the period if he
deposits $ 30,000 per semester for 3 1/2 years into a bank account that yields 12%
per compound semester?
Data:
𝑅𝑅 = $30,000

𝑖𝑖 = 0.12�2 = 0.06

𝑛𝑛 = 3.5(2) = 7 𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠𝑠
Solution:
(1 + 𝑖𝑖)𝑛𝑛 − 1
𝑀𝑀 = 𝑅𝑅
𝑖𝑖
 (1.06)7 − 1
⇒ 𝑀𝑀 = 30,000
0.06
∴ 𝑴𝑴 = $𝟐𝟐𝟐𝟐𝟐𝟐, 𝟖𝟖𝟖𝟖𝟖𝟖. 𝟏𝟏𝟏𝟏𝟏𝟏𝟏𝟏
Interpretation:
⇒The amount that Mr. Márquez will receive at the end of the 3 and a half years in a
bank account that yields 12% per compound semester will be: = $ 251,815,1295

11. Find the final amount or value of a $ 2,000 annuity that will be paid monthly for
two years at 24% compounded monthly.
Data:

𝑅𝑅 = 2,000
𝑛𝑛 = 2 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 = 24 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
0.24
𝑖𝑖 = = 0.02 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚
12
𝑆𝑆24= ?
Solution:

(1 + 𝑖𝑖)𝑛𝑛 − 1
𝑆𝑆𝑛𝑛 = 𝑅𝑅
𝑖𝑖
(1 + 𝑖𝑖)24 − 1
𝑆𝑆7 = 2,000
0.02
𝑆𝑆7 = 2,000(30,421862)
𝑆𝑆7= 60,843.72
Interpretation:
The final amount or value of a $ 2,000 annuity that will be paid monthly for two years
at 24% compounded monthly is 𝑆𝑆7= 60,843.72
12. A person deposits $ 1,000 each end of the month for a year. If the interest rate
is 24% compounded monthly, find the total amount you will have at the end of the
year.
Data:
𝑅𝑅 = 1,000
𝑁𝑁 = 1 𝑦𝑦𝑦𝑦𝑦𝑦𝑦𝑦 = 12 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
0.24
𝑖𝑖 = = 0.02 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚
12
𝑆𝑆12 ?
Solution:
 (1 + 𝑖𝑖)𝑛𝑛 − 1
𝑆𝑆𝑛𝑛 = 𝑅𝑅
𝑖𝑖
𝑆𝑆12 = 1,000(13,412090)
𝑆𝑆12 = 13,412.09
Interpretation:
The total amount you will have at the end of the year is 𝑆𝑆12 = 13,412.09
Comentado [M97]:

13. What is the principal that will accumulate to $ 715.26 in 15 months at the simple
interest rate of 0.055?
Data:
𝑆𝑆 = 715,26
𝑛𝑛 = 15 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑖𝑖 = 0.055
𝐴𝐴 =?
𝑆𝑆 = 𝐴𝐴 + 𝐼𝐼
𝑆𝑆 = 𝐴𝐴(𝐼𝐼 + 𝑛𝑛𝑛𝑛)
Solution:
𝑆𝑆
𝐴𝐴 =
(1 + 𝑛𝑛𝑛𝑛)
515,26
⟹ 𝑆𝑆 =
1,05675
∴ 𝑆𝑆 = $659,25

Interpretation:
The principal that will accumulate to $ 715.26 in 15 months at the simple interest rate
of 0.055 is ∴ 𝑆𝑆 = $659,25

14. The interest paid on a $ 750 loan for a 4-month period was $ 16.24. What was
the simple interest rate?
Data:
𝐼𝐼 = $16,24
𝑛𝑛 = 4 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝐴𝐴 = 750
𝑖𝑖 =?
Solution:
𝐼𝐼 ∗ 12
𝑖𝑖 =
𝐴𝐴 ∗ 𝑛𝑛
16,24 ∗ 12
⟹ 𝑖𝑖 =
750 ∗ 4
∴ 𝑖𝑖 = 6.5%
Interpretation:
The simple interest rate is ∴ 𝑖𝑖 = 6.5%
 1. What is the monthly income required to obtain $30,760.08 for 6 months if
invested at 12% compounded monthly?
Data:
𝑀𝑀 = $30,760.08
𝑖𝑖 = 12% 𝑟𝑟𝑟𝑟𝑟𝑟𝑟𝑟 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙=0.12/12=0.01
𝑛𝑛 = 6 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑠𝑠
𝑅𝑅 =?

Solution:
[(1 + 𝑖𝑖) − 1𝑛𝑛 ]
∶ 𝑀𝑀 = 𝑅𝑅
𝑖𝑖
𝑀𝑀 ∗ 𝑖𝑖
⟹ 𝑅𝑅 =
[(1 + 𝑖𝑖) − 1𝑛𝑛 ]
30,760.08 ∗ 0.01
⟹ 𝑅𝑅 =
[(1 + 0.01) − 16 ]
307.6008
⟹ 𝑅𝑅 =
[(1 + 0.01) − 16 ]
∴ 𝑅𝑅 = $5,000.00
Interpretation:
The monthly income required is ∴ 𝑅𝑅 = $5,000.00
Comentado [M98]:

2. How many payments must be made to accumulate $30,760.08 if $5,000 is

deposited monthly, with an interest rate of 12% compounded monthly?
Data:
𝑛𝑛 =?
𝑅𝑅 = $5,000
𝑀𝑀 = 30,760.08
0.12
𝑖𝑖 = 12% 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙 𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐𝑐 = = 0.01 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙
12
Solution:
𝑀𝑀𝑀𝑀 Comentado [M99]: Cuidado, log es distinto que ln
log � 𝑅𝑅 + 1�
∶ 𝑛𝑛 =
log(1 + 𝑖𝑖)
 (30,760.08)(0.01)
log � + 1�
5,000
⟹ 𝑛𝑛 =
log(1 + 0.01)
∴ 𝑛𝑛 = 6 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙𝑙𝑙
Interpretation:
In 6 payments because ∴ 𝑛𝑛 = 6 𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ𝑙𝑙𝑙𝑙𝑙𝑙

Y la bibliografía?

Cuáles fueron las fuentes de consulta de los ejercicios que investigaron?