## Help with a Math Problem

For the discussion of math. Duh.

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Samuel
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Taly and Marc open a Registered Home Ownership Savigs Plan that pays 6% iterest compouded semi-annually. For 4 years, they invest $500 every 5 months in the plan. Determine the amount of interest they earn. Yesila Posts: 221 Joined: Sun Dec 16, 2007 11:38 am UTC ### Re: Help with a Math Problem Samuel wrote:Taly and Marc open a Registered Home Ownership Savigs Plan that pays 6% iterest compouded semi-annually. For 4 years, they invest$500 every 5 months in the plan. Determine the amount of interest they earn.

Solution may be found by reading your text book and finding the appropriate formula to plug things into. Use your index in the back of the book to help you locate the right page. Try looking up "interest" and/or "compound" if you can't find the right page.

Spoiler:
the word "annuity" might be worth looking at too.

Qoppa
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### Re: Help with a Math Problem

Code: Select all

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Yakk
Poster with most posts but no title.
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### Re: Help with a Math Problem

Sheesh, there is no need to be that harsh.

Taly and Marc are highly interesting, especially to each other. Their interest grows over the years, until after 7 years it whithers and collapses. Taly cheats on Marc with Marc's twin brother, Cram. Marc doesn't notice, because Marc things he is Cram.

This gets confusing at the divorce. A retroactive decision that transfers 17% of the interest income from the RHOSP to a trust fund for their now 9 year old daughter, and splits the remainder. Marc's marginal income tax over that period is 37% plus 0.1% per 1000$, evaluated on 100$ increments, while Taly's is 42% minus 0.2% per 1000$increase in income, evaluated on 17$ increments.

The split in the interest income occurs based on their after-tax money from the income source. Taxes paid on this where then refunded, with the government providing a 2% return on previously paid taxes (based on the point where they where paid). Taly originally got a 1/pi share of the RHOSP, decreasing linearly to 1/e by the end of the 7 year period.

Taxes where paid in in mid april, plus or minus a guassian distribution centered on zero with a standard deviation of e+pi days. The government took between 7 and 14 days (linearly and uniformly) to cash the cheque, which is what the interest was paid based on.

If the divorce proceedings took sqrt(2) years to complete, and the RHOSP transfer of wealth to their daughter occurred at a uniform random period within the divorce proceedings, and the divorce was finalized at a uniformly selected random day of the year, simply describe the distribution of the interest earned.

See? It isn't hard to be helpful.
One of the painful things about our time is that those who feel certainty are stupid, and those with any imagination and understanding are filled with doubt and indecision - BR

Last edited by JHVH on Fri Oct 23, 4004 BCE 6:17 pm, edited 6 times in total.

hocl
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### Re: Help with a Math Problem

If you want someone to do your homework for you, you could just ask Mr. Excel. He's really good at this sort of problem. Mr. Open Office Calc also is good, but he has the annoying habit of constantly trying to finish your sentences for you.

NathanielJ
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### Re: Help with a Math Problem

I'm a little surprised that the name "Samuel" was still available on these forums. Neat.
Homepage: http://www.njohnston.ca
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Yesila
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### Re: Help with a Math Problem

NathanielJ wrote:I'm a little surprised that the name "Samuel" was still available on these forums. Neat.

mdyrud
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### Re: Help with a Math Problem

I am going to have to say that Yakk's answer is the best, not just for this problem, but for the entire internet.

Haeche
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### Re: Help with a Math Problem

What's jamming up the circuits? Hint, start by writing down the problem and the terms one by one.

scikidus
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Samuel wrote:Taly and Marc open a Registered Home Ownership Savigs Plan that pays 6% iterest compouded semi-annually. For 4 years, they invest $500 every 5 months in the plan. Determine the amount of interest they earn. They make no interest. The savings plan was given a AAA rating by the credit union even though the insurance companies couldn't back the risk. 2 years into their Home Ownership plan, they default on their sub-prime mortgage, decreasing housing prices in their area and destroying their credit levels. Happy hollandaise! "The universe is a figment of its own imagination" -Douglas Adams Suffusion of Yellow Posts: 42 Joined: Thu Jan 01, 2009 6:15 pm UTC ### Re: Help with a Math Problem Samuel wrote:Taly and Marc open a Registered Home Ownership Savigs Plan that pays 6% iterest compouded semi-annually. For 4 years, they invest$500 every 5 months in the plan. Determine the amount of interest they earn.

Determine as in decide? In that case, they make forty bucks. Because I don't like them

Talith
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### Re: Help with a Math Problem

Samuel wrote:Taly and Marc open a Registered Home Ownership Savigs Plan that pays 6% iterest compouded semi-annually. For 4 years, they invest \$500 every 5 months in the plan. Determine the amount of interest they earn.

Well i'm not very interested, so i'll say 5.[imath]\pi[/imath].