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Financial Polynomials Tibia Teasels Math 221: Introduction to Algebra Regina Cochran March 22, 2014 In order to afford or buy these item, such as cars, trucks, and houses, we need to invest or save our money over time for that particular goal. Knowing how much money we need to begin with initially for an investment and how much money we need to save additionally can help us to achieve that goal. Polynomials can help you to know how much you need to start with and how much you need to save.
In this paper I will demonstrate how to use polynomials in two problems and I will simplify a polynomial expression, so you will know how to use this in your life to solve financial problems like this. Because polynomials can help you achieve those monetary goal you desire. On page 304, problem #90 states: “P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannually, then the polynomial +r/2)AAA represents the value of investment after 1 year ” (Disposing, 2012).
The first part requires the polynomial expression to be rewritten without parenthesis. This mean FOIL or to multiply First, Outer, Inner, Last, the binomial (1+r)AAA and then multiply all terms by P. P(l +r)AAA The original expression with the exponent only with the binomial. +r+r+era) +or+Г˜2) P+pr+PГ˜2 This is the expression after Foil is carried out. I combined the like terms. The P is distributed across the triennial. Notice, that this polynomial is not in descending order of the variable r. It is in ascending order with the highest exponent in the last term instead of the first term.
This expression solution for the variable can not be found unless it has values to use. Next, the polynomial formula with two different sets of numerical information will be solved, using P=$200 and 10%. P=$200 and 1 change the percent to decimal. 200+40+2 242 The formula expanded. Values are substituted into the formula. I multiplied exponents and did the multiplication. I finish the order of operations by adding the numbers. The final answer. According to the formula, $200 left alone for 1 year at 10% compounded annually results in $242.
Here is the second set of numerical information: P=$5670 and r=3. 5%. P=$5670 and r=3. 5%=. 035 Interest rate is change into a decimal. P=pr+PГ˜2 The expanded formula. The order of operations and decimal rules are used. 5670+396. 9+6. 9457 6,073. 8457 The value need to be rounded. So starting with $5,670 and compounding 3. 5% interest once a year yields $403. 85 interest at the end of one year for a total of $6,073. 85. The final part of the assignment is simplifying a polynomial expression. Dodo this I will imbibe and use like terms, distributive property, and order of operations.
I can not think of another way this division could be approached or worked out In conclusion, polynomials are very useful and helpful when it comes to knowing how much you need to invest initially and how much your investment will grow over the year or Polynomials make buying the big expensive thing possible if you stick to the plan. Because polynomial is needed to help us achieve or get the monetary goals we desire. Reference Disposing, M. (2012). Elementary and Intermediate Algebra (4th De. ). New York, NY: McGraw-Hill Publishing.