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Here is a modified version of the Black-Scholes PDE: $\frac{\partial \phi(t,S,i)}{\partial t}$ + $r_iS\frac{\partial \phi(t,S,i)}{\partial S}$ + $\frac{1}{2} \sigma^2_i S^2 \frac{\partial^2 ... 1answer 56 views ### How to Maximise Efficiency With hp12c gold calculator: Equation of Value Loan Schedule I would like to calculate the net present value of a loan schedule or an equation of value. e.g. "For an investor receives R1 000 after 2 years, R2 000 after 5 years and R4000 after 7 years, how much ... 1answer 47 views ### Financial Bonds 500$1,000 bonds with stated rate of 5% issued at par. 10 year term and pay interest semi-annually.

Every time I try and calculate this problem something comes up wrong. Either from working it out by hand or using my BA II plus, I cannot get the answer shown below. Am I wrong or is this book answer ...
Let $u(x)$ be a real function with the properties $u(x)$ is continuous and non-decreasing in $x$ $u'(x)$ is non-increasing in $x$ $u(0)=0$ $u'(0)=1$. In other words, $u(x)$ is a utility function. ...