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- 首页 >> Java编程 Practical projects: in this project, you are expect to
1.use nonlinear equations to solve a finance problem.
2.realize how importance of simple one dimensional nonlinear equation in daily life.
3.problem can be solved with the Jupyter notebook and export it as PDF.
Reference
1. https://ieeexplore.ieee.org/document/9317208
1.In installment buying, one would like to figure out the real interest rate (effective rate), but unfortunately this involves solving a complicated equation. If one buys an item worth P today and agrees to pay for it with payments at the end of each of the next k months, then
where i is the interest rate per month. Tom bought a car for 200,000 and agreed to pay for it with 1000 payments at the end of each of the next 24 months. What is the effective monthly interest rate i? The interest rate i satisfies the equation
20i(1 + i)24 − (1 + i)24 + 1 = 0.
2.Instead of using annual interest rate. Some banks, especially for credit card, use installment fees or annual fee rate. For example if one buys an item for the price P, and agree to pay for it
each month for k months. α usually ranges from 0.2% to 0.8%. What is the effective monthly and annul interest rate for k = 3,6,9,12,18,24, and α = 0.25%,0.5% and 0.75%. You can solve this problem with solution to nonlinear equations.
3.Investigate your own credit card, or your installment buy (for example car)if any, to tell the the difference between annual fee rate and annual interest rate. You are expect to write a brief report and present a table to compare the difference.
1.use nonlinear equations to solve a finance problem.
2.realize how importance of simple one dimensional nonlinear equation in daily life.
3.problem can be solved with the Jupyter notebook and export it as PDF.
Reference
1. https://ieeexplore.ieee.org/document/9317208
1.In installment buying, one would like to figure out the real interest rate (effective rate), but unfortunately this involves solving a complicated equation. If one buys an item worth P today and agrees to pay for it with payments at the end of each of the next k months, then
where i is the interest rate per month. Tom bought a car for 200,000 and agreed to pay for it with 1000 payments at the end of each of the next 24 months. What is the effective monthly interest rate i? The interest rate i satisfies the equation
20i(1 + i)24 − (1 + i)24 + 1 = 0.
2.Instead of using annual interest rate. Some banks, especially for credit card, use installment fees or annual fee rate. For example if one buys an item for the price P, and agree to pay for it
each month for k months. α usually ranges from 0.2% to 0.8%. What is the effective monthly and annul interest rate for k = 3,6,9,12,18,24, and α = 0.25%,0.5% and 0.75%. You can solve this problem with solution to nonlinear equations.
3.Investigate your own credit card, or your installment buy (for example car)if any, to tell the the difference between annual fee rate and annual interest rate. You are expect to write a brief report and present a table to compare the difference.