Left Midpoint Right f(midpoint)

1 1.5 2 275125
1 1.25 1.5 70193.35938
1 1.125 1.25 15522.27783
1 1.0625 1.125 -3637.81548
1.0625 1.09375 1.125 5354.859054
1.0625 1.078125 1.09375 718.1805614
1.0625 1.070313 1.078125 -1494.11089
1.070313 1.074219 1.078125 -396.636582
1.074219 1.076172 1.078125 158.5917962
1.074219 1.075195 1.076172 -119.565896
1.075195 1.075684 1.076172 19.3768817
1.075195 1.075439 1.075684 -50.1284999
1.075439 1.075562 1.075684 -15.3843104
1.075562 1.075623 1.075684 1.994159964
1.075562 1.075592 1.075623 -6.69560659
1.075592 1.075607 1.075623 -2.35085616
1.075607 1.075615 1.075623 -0.17838131
1.075615 1.075619 1.075623 0.907881022
 Left Midpoint Right f(midpoint)
1 1.5 2 542903618
1 1.25 1.5 2385780.16
1 1.125 1.25 55757.1542
1 1.0625 1.125 1792.91661
1 1.03125 1.0625 -681.58328
1.03125 1.046875 1.0625 -134.31414
1.046875 1.054688 1.0625 601.915279
1.046875 1.050781 1.054688 184.851333
1.046875 1.048828 1.050781 13.9192423
1.046875 1.047852 1.048828 -62.929517
1.047852 1.04834 1.048828 -25.201066
1.04834 1.048584 1.048828 -5.8165296
1.048584 1.048706 1.048828 4.00724615
1.048584 1.048645 1.048706 -0.9156435
1.048645 1.048676 1.048706 1.54304767
1.048645 1.04866 1.048676 0.31301407
1.048645 1.048653 1.04866 -0.3014867
1.048653 1.048656 1.04866 0.00572071
 Left Midpoint Right f(midpoint)
0.01 0.255 0.5 #VALUE!
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 n xn
1 1
2 1.08916
3 1.07597
4 1.07562
5 1.07562
6 1.07562
7 1.07562
8 1.07562
9 1.07562
10 1.07562
11 1.07562
12 1.07562
13 1.07562
14 1.07562
15 1.07562
16 1.07562
17 1.07562
18 1.07562
 n xn
1 1.1
2 1.07832
3 1.06244
4 1.0529
5 1.04921
6 1.04867
7 1.04866
8 1.04866
9 1.04866
10 1.04866
11 1.04866
12 1.04866
13 1.04866
14 1.04866
15 1.04866
16 1.04866
17 1.04866
18 1.04866
Problem 1 Problem 2 Problem 3
x f(x) x f(x) x f(x)
1.07562 2E-07 1.04866 1.7E-07 0.20154 ###
weights 0 0.6667 0.3333

covariance 0.0189 0.0172 0.0072

matrix 0.0172 0.0276 0.006
0.0072 0.006 0.0097

expected returns 0.08 0.1 0.07

proportion invest 1
expected return 0.09
portfolio varianc 0.016
volatility 0.1266
 S = 100
X = 102
T-t = 1
s = 0.2
r = 0.05
n = 6

u = 1.08508
d = 0.92159
p = 0.53079
q = 0.46921

r 0 1 2 3 4 5 6
binomial probs 0.01067 0.07243 0.20484 0.30896 0.26213 0.11861 0.02236
future value 40.7311 29.8627 17.0663 2 0 0 0
(future value) 0.43466 2.16298 3.49585 0.61792 0 0 0 6.71141

resent value = 6.38409

 S = 100 163.215
X = 102 0
s = 0.2 150.418
r = 0.05 0
T-t = 1 138.624 138.624
dt = 0.16667 0 0
127.756 127.756
u = 1.08508 0.2015 0
d = 0.92159 117.739 117.739 117.739
p = 0.53079 1.22438 0.43305 0
108.508 108.508 108.508
3.31558 2.40331 0.93064
100 100 100 100
6.38409 5.74033 4.67498 2
92.1595 92.1595 92.1595
9.96913 9.61763 8.99405
84.9337 84.9337 84.9337
14.9307 15.3804 17.0663
78.2744 78.2744
21.2072 22.8791
72.1373 72.1373
28.1768 29.8627
66.4814
34.6722
61.2689
40.7311
 S = 100 163.215
X = 102 0
s = 0.2 150.418
r = 0.05 0
T-t = 1 138.624 138.624
dt = 0.16667 0 0
127.756 127.756
u = 1.08508 0.2015 0
d = 0.92159 117.739 117.739 117.739
p = 0.53079 1.30966 0.43305 0
108.508 108.508 108.508
3.62011 2.58659 0.93064
100 100 100 100
7.14348 6.29832 5.06886 2
92.1595 92.1595 92.1595
11.2566 10.6094 9.84052
84.9337 84.9337 84.9337
17.0663 17.0663 17.0663
78.2744 78.2744
23.7256 23.7256
72.1373 72.1373
29.8627 29.8627
66.4814
35.5186
61.2689
40.7311
 S(0.25) S(0.5)S(0.75) S(1)fut opt val mean
S(0) = 100 101.54 99.59 96.62 83.55 0.00 5.14
r = 0.05 83.71 92.65 95.74 113.67 14.10
s = 0.2 98.68 85.86 93.17 103.87 6.60 s.d.
t = 0.25 113.69 110.24 115.79 117.45 3.16 6.8576
117.66 141.26 120.24 139.19 9.53
(r-s^2/2)t = 0.008 111.54 113.42 131.34 151.87 22.47
s sqrt(t) = 0.1 101.60 103.62 119.61 102.97 0.00
94.40 92.81 88.46 87.07 0.00
101.25 106.39 102.08 108.88 4.23
92.71 96.64 83.91 79.57 0.00
101.00 95.53 107.88 99.85 0.00
88.41 84.93 93.66 78.07 0.00
92.98 101.98 108.26 112.43 8.52
110.70 120.96 138.35 123.98 0.48
94.62 101.28 109.74 121.53 14.73
108.68 110.00 107.12 96.25 0.00
103.60 107.71 102.99 97.32 0.00
107.86 110.48 113.02 103.74 0.00
94.74 90.24 88.26 109.62 13.91
 245.00
240.00
235.00
230.00
225.00
220.00
215.00
210.00
205.00
200.00
195.00
190.00
185.00
180.00
175.00
170.00 -0.09
165.00 -1.14 0.30
160.00 -6.49 2.14 -0.65
155.00 -22.80 8.54 -3.11 1.16
150.00 -56.22 22.86 -9.21 3.86 -1.51
145.00 -104.62 45.00 -19.37 8.74 -3.76 1.82
140.00 68.80 -30.90 14.73 -6.67 3.50 -1.49
135.00 -39.02 19.45 -9.01 5.10 -2.17 1.57
130.00 20.87 -9.56 5.94 -2.31 2.08 -0.46
125.00 -8.02 5.87 -1.72 2.39 -0.08 1.26
120.00 5.27 -0.51 2.62 0.66 1.70 0.90
115.00 1.05 3.01 1.71 2.35 1.77 1.97
dS = 5.00 110.00 3.77 3.01 3.32 2.95 3.01 2.78
dt = 0.05 105.00 4.60 4.69 4.48 4.45 4.29 4.21
X = ### 100.00 6.51 6.39 6.34 6.23 6.15 6.04
s = 0.20 95.00 8.72 8.68 8.62 8.57 8.51 8.45
r = 0.05 90.00 11.49 11.48 11.47 11.46 11.45 11.44
85.00 14.78 14.83 14.87 14.92 14.97 15.02
80.00 18.58 18.67 18.78 18.88 19.00 19.11
75.00 22.80 22.95 23.11 23.27 23.44 23.61
70.00 27.36 27.56 27.75 27.95 28.16 28.37
65.00 32.15 32.37 32.59 32.82 33.05 33.28
60.00 37.07 37.30 37.54 37.77 38.01 38.26
55.00 42.04 42.28 42.52 42.76 43.01 43.25
50.00 47.03 47.27 47.52 47.76 48.01 48.25
45.00 52.03 52.27 52.52 52.76 53.01 53.25
40.00 57.03 57.27 57.52 57.76 58.01 58.25
35.00 62.03 62.27 62.52 62.76 63.01 63.25
30.00 67.03 67.27 67.52 67.76 68.01 68.25
25.00 72.03 72.27 72.52 72.76 73.01 73.25
20.00 77.03 77.27 77.52 77.76 78.01 78.25
15.00 82.03 82.27 82.52 82.76 83.01 83.25
10.00 87.03 87.27 87.52 87.76 88.01 88.25
5.00 92.03 92.27 92.52 92.76 93.01 93.25
0.00 97.03 97.27 97.52 97.76 98.01 98.25
0.00 97.03 97.27 97.52 97.76 98.01 98.25
0.00 97.03 97.27 97.52 97.76 98.01 98.25
101.79 102.04 102.30 102.55 102.81 103.07
 0.00
0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
-0.06 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.20 -0.05 0.01 0.00 0.00 0.00 0.00 0.00 0.00
-0.38 0.14 -0.03 0.01 0.00 0.00 0.00 0.00 0.00
0.66 -0.22 0.11 -0.02 0.01 0.00 0.00 0.00 0.00
-0.73 0.40 -0.12 0.09 -0.01 0.02 0.00 0.00 0.00
0.94 -0.32 0.28 -0.05 0.09 0.00 0.02 0.00 0.00
-0.49 0.57 -0.08 0.24 0.01 0.09 0.01 0.03 0.00
0.91 0.02 0.47 0.10 0.25 0.08 0.12 0.03 0.04
0.32 0.79 0.36 0.52 0.29 0.33 0.18 0.18 0.07
1.26 0.86 0.97 0.72 0.73 0.54 0.50 0.34 0.29
1.65 1.68 1.45 1.40 1.20 1.12 0.93 0.82 0.62
2.74 2.54 2.45 2.26 2.14 1.94 1.79 1.57 1.39
4.06 3.95 3.79 3.65 3.47 3.31 3.11 2.91 2.66
5.94 5.82 5.70 5.56 5.43 5.27 5.10 4.91 4.70
8.38 8.30 8.22 8.14 8.04 7.95 7.84 7.72 7.59
11.43 11.41 11.40 11.38 11.37 11.35 11.34 11.33 11.33
15.07 15.13 15.19 15.26 15.33 15.42 15.51 15.61 15.73
19.23 19.36 19.50 19.64 19.79 19.96 20.13 20.32 20.53
23.79 23.97 24.16 24.36 24.57 24.79 25.01 25.25 25.49
28.59 28.81 29.03 29.27 29.50 29.74 29.99 30.23 30.48
33.52 33.76 34.00 34.24 34.49 34.73 34.98 35.23 35.48
38.50 38.74 38.99 39.24 39.48 39.73 39.98 40.23 40.48
43.50 43.74 43.99 44.24 44.48 44.73 44.98 45.23 45.48
48.50 48.74 48.99 49.24 49.48 49.73 49.98 50.23 50.48
53.50 53.74 53.99 54.24 54.48 54.73 54.98 55.23 55.48
58.50 58.74 58.99 59.24 59.48 59.73 59.98 60.23 60.48
63.50 63.74 63.99 64.24 64.48 64.73 64.98 65.23 65.48
68.50 68.74 68.99 69.24 69.48 69.73 69.98 70.23 70.48
73.50 73.74 73.99 74.24 74.48 74.73 74.98 75.23 75.48
78.50 78.74 78.99 79.24 79.48 79.73 79.98 80.23 80.48
 83.50 83.74 83.99 84.24 84.48 84.73 84.98 85.23 85.48
88.50 88.74 88.99 89.24 89.48 89.73 89.98 90.23 90.48
93.50 93.74 93.99 94.24 94.48 94.73 94.98 95.23 95.48
98.50 98.74 98.99 99.24 99.48 99.73 99.98 100.23 100.48
98.50 98.74 98.99 99.24 99.48 99.73 99.98 100.23 100.48
98.50 98.74 98.99 99.24 99.48 99.73 99.98 100.23 100.48
103.32 103.58 103.84 104.10 104.36 104.62 104.88 105.15 105.41
 0.00
0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00
0.06 0.00 0.00 0.00 0.00 0.00
0.15 0.10 0.00 0.00 0.00 0.00
0.50 0.30 0.19 0.00 0.00 0.00
1.14 0.92 0.62 0.38 0.00 0.00
2.41 2.10 1.77 1.35 0.83 0.00
4.46 4.19 3.87 3.48 3.02 2.00
7.45 7.30 7.14 6.98 6.75 7.00
11.34 11.36 11.41 11.49 11.75 12.00
15.87 16.04 16.24 16.49 16.75 17.00
20.75 20.99 21.24 21.49 21.75 22.00
25.73 25.99 26.24 26.49 26.75 27.00
30.73 30.99 31.24 31.49 31.75 32.00
35.73 35.99 36.24 36.49 36.75 37.00
40.73 40.99 41.24 41.49 41.75 42.00
45.73 45.99 46.24 46.49 46.75 47.00
50.73 50.99 51.24 51.49 51.75 52.00
55.73 55.99 56.24 56.49 56.75 57.00
60.73 60.99 61.24 61.49 61.75 62.00
65.73 65.99 66.24 66.49 66.75 67.00
70.73 70.99 71.24 71.49 71.75 72.00
75.73 75.99 76.24 76.49 76.75 77.00
80.73 80.99 81.24 81.49 81.75 82.00
 85.73 85.99 86.24 86.49 86.75 87.00
90.73 90.99 91.24 91.49 91.75 92.00
95.73 95.99 96.24 96.49 96.75 97.00
100.73 100.99 101.24 101.49 101.75 102.00
100.73 100.99 101.24 101.49 101.75 102.00
100.73 100.99 101.24 101.49 101.75 102.00
105.67 105.94 106.20 106.47 106.73 107.00