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Use the function from
to
and n equal subintervals with the function evaluated at the left-hand endpoints of each subinterval. Find
by using the formula for the sum of the areas of the n rectangles (call this S) .
Contract Interest Rate
The pre-determined rate at which interest is calculated on a loan or financial agreement.
Face Value
The original cost of a bond or stock, as indicated on the certificate; it is also known as the nominal or par value.
Above Face Value
A situation where a financial instrument, such as a bond, is traded for more than its original issue price.
Issued Bonds
Debt securities that a company or government has sold to investors to raise capital.
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