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Great Barrier Reef | seventeen species sea snake live great barrier reef warm waters metres ft deep common southern northern section.none found great barrier reef world heritage area endemic endangered.six species sea turtles come reef breed green sea turtle leatherback sea turtle hawksbill turtle loggerhead sea turtle flatback turtle olive ridley.green sea turtles great barrier reef two genetically distinct populations one northern part reef southern part.fifteen species seagrass beds attract dugongs turtles provide fish habitat.common genera seagrasses halophila halodule.saltwater crocodiles live mangrove salt marshes coast near reef. |
Great Barrier Reef | nesting reported salt water crocodile population gbrwha wideranging low density.around species shark stingray skates chimaera live reef.close species mollusc recorded reef including giant clam various nudibranchs cone snails.fortynine species pipefish nine species seahorse recorded.least seven species frog inhabit islands. |
Great Barrier Reef | species birds including species seabirds species shorebirds visit reef nest roost islands – including whitebellied sea eagle roseate tern.nesting sites islands northern southern regions great barrier reef ..million birds using sites breed.islands great barrier reef also support known plant species three endemic. |
Great Barrier Reef | northern islands – plant species tend woody whereas southern islands tend herbaceous whitsunday region diverse supporting species.plants propagated birds.there least species ascidians reef system diameter – cm .– in.species bryozoans live reef.four hundred coral species hard corals soft corals inhabit reef.majority spawn gametes breeding mass spawning events triggered rising sea temperatures spring summer lunar cycle diurnal cycle. |
Great Barrier Reef | reefs inner great barrier reef spawn week full moon october outer reefs spawn november december.common soft corals belong genera.five hundred species marine algae seaweed live reef including thirteen species genus halimeda deposit calcareous mounds metres yd wide creating miniecosystems surface compared rainforest cover.environmental threats climate change pollution crownofthorns starfish fishing primary threats health reef system.threats include shipping accidents oil spills tropical cyclones. |
Great Barrier Reef | skeletal eroding band disease bony corals caused protozoan halofolliculina corallasia affects coral species.according study national academy sciences since great barrier reef lost half corals twothirds loss occurring due factors listed before.climate change great barrier reef marine park authority considers greatest threat great barrier reef climate change causing ocean warming increases coral bleaching.mass coral bleaching events due marine heatwaves occurred summers coral bleaching expected become annual occurrence.study found great barrier reef lost half corals since due warmer seas driven climate change. |
Great Barrier Reef | global warming continues corals able keep increasing ocean temperatures.coral bleaching events lead increased disease susceptibility causes detrimental ecological effects reef communities.in july unesco published draft decision expressing serious concern impact coral bleaching great barrier reef.draft decision also warned australia meet targets reef report without considerable work improve water quality.climate change implications forms reef life—some fishs preferred temperature range leads seek new habitat thus increasing chick mortality predatory seabirds.climate change also affect sea turtles population available habitat.bleaching events benthic coral communities deeper metres feet great barrier reef well documented shallower depths recent research shown benthic communities negatively impacted face rising ocean temperatures.five great barrier reef species large benthic corals found bleached elevated temperatures affirming benthic corals vulnerable thermal stress. |
Great Barrier Reef | pollution another key threat faced great barrier reef pollution declining water quality.rivers northeastern australia pollute reef tropical flood events.pollution comes farm runoff.land adjacent great barrier reef used farming including intensive cropping sugar cane major beef cattle grazing.farming practices damage reef due overgrazing increased runoff agricultural sediments nutrients chemicals including fertilisers herbicides pesticides representing major health risk coral biodiversity reefs.according report higher regulation contributes less overall pollution land uses industrial mining port development dredging urban development still locally significant. |
Great Barrier Reef | sediments containing high levels copper heavy metals sourced ok tedi mine papua new guinea potential pollution risk far northern great barrier reef torres strait regions.some corals died reefs worsthit northern section arc centre excellence coral reef studies report said.loss coastal wetland runoff problem exacerbated loss coastal wetlands act natural filter toxins help deposit sediment.thought poor water quality due increased light oxygen competition algae.eutrophication farming fertiliser runoff release nitrogen phosphorus potassium oceanic ecosystem limiting nutrients cause massive algal growth eventually leads reduction oxygen available creatures process called eutrophication.decreases biodiversity affected areas altering species composition. |
Great Barrier Reef | study katharina fabricius glen death australian institute marine science found hard corals numbers almost double reefs far agricultural areas.fertilizers also increase amount phytoplankton available crownofthorns starfish larvae consume.study showed doubling chlorophyll water leads tenfold increase crownofthorns starfish larvaes survival rate.sediment runoff sediment runoff farming carries chemicals reef environment also reduces amount light available corals decreasing ability extract energy environment.pesticides pesticides used farming made heavy metals lead mercury arsenic toxins released wider environment due erosion farm soil detrimental effect coral.pollution mining mining company queensland nickel discharged nitrateladen water great barrier reef – later occasion releasing tonnes long tons short tons waste water. |
Great Barrier Reef | great barrier reef marine park authority gbrmpa stated strongly encouraged company investigate options entail releasing material environment develop management plan eliminate potential hazard however gbrmpa legislative control yabulu tailings dam managed.crown thorns crownofthorns starfish preys coral polyps.large outbreaks starfish devastate reefs.outbreak contributed loss live coral cover sampled reefs study reef research centre rrc.outbreaks believed occur natural cycles worsened poor water quality overfishing starfishs predators. |
Great Barrier Reef | overfishing unsustainable overfishing keystone species giant triton disrupt food chains vital reef life.fishing also impacts reef increased water pollution boats bycatch unwanted species dolphins turtles habitat destruction trawling anchors nets.middle approximately onethird great barrier reef marine park protected species removal kind including fishing without written permission.shipping shipping accidents pressing concern several commercial shipping routes pass great barrier reef.although route great barrier reef easy reef pilots consider safer outside reef event mechanical failure since ship sit safely repaired.known shipwrecks great barrier reef region.on april bulk coal carrier shen neng ran aground douglas shoals spilling four tonnes oil water causing extensive damage reef. |
Great Barrier Reef | shark culling government queensland shark control program shark culling deliberately kills sharks throughout queensland including great barrier reef.environmentalists scientists say program harms marine ecosystem also say outdated cruel ineffective.queensland shark control program uses shark nets drum lines baited hooks kill sharks great barrier reef – lethal drum lines great barrier reef.queensland sharks found alive baited hooks shot.queenslands shark control program killed sharks . |
Great Barrier Reef | also queenslands shark control program also killed many animals dolphins turtles — program killed marine animals including great barrier reef.humane society international filed lawsuit government queensland stop shark culling great barrier reef.protection preservation reef plan march australian queenslands governments formed plan protection preservation reefs universal heritage .years plan titled reef plan document proposing possible measures longterm management pollution climate change issues threaten life span value global heritage.plan contains elements measurement improvements including longterm sustainability plan water quality improvement plan investment plan protection preservation reef .however whereas plan aims incorporate protective measures improving water quality reef restoration killing predatory starfish incorporate additional measures address root cause problem namely climate change caused greenhouse gas emissions. |
Great Barrier Reef | experts doubt whether enough save fragile environment.another issue time left .°c warming threshold temperature limit coral reefs still cope limited.as part reef plan aud million grant given great barrier reef foundation .announcement grant subject backlash grant avoided proper tender transparency processes.human use great barrier reef long known used aboriginal australian torres strait islander peoples. |
Great Barrier Reef | aboriginal australians living area least years torres strait islanders since years ago.clan groups reef also important cultural feature.in louis de bougainville found reef exploratory mission claim area french.june hm bark endeavour captained explorer james cook ran aground great barrier reef sustaining considerable damage.lightening ship refloating incoming tide eventually saved it.one famous wrecks hms pandora sank august killing men. |
Great Barrier Reef | queensland museum led archaeological digs wreck pandora since .reef atolls largely unstudied th century.time reefs islands mined deposits guano lighthouses built beacons throughout system.raine island earliest example.great barrier reef committee began carrying much early research reef. |
Great Barrier Reef | management royal commissions disallowed oil drilling great barrier reef government australia created great barrier reef marine park prohibited various activities.great barrier reef marine park include entire great barrier reef province.park managed partnership government queensland great barrier reef marine park authority ensure used sustainable manner.combination zoning management plans permits education incentives ecotourism certification employed effort conserve reef.in australian parliament passed environment protection biodiversity conservation act improved operation national environmental law providing guidance regional biodiversity conservation priorities.marine bioregional planning process came implementation law. |
Great Barrier Reef | process conserves marine biodiversity considering whole ecosystem species different species interact marine environment.there two steps process.first step identify regional conservation priorities five currently different marine regions.second step identify marine reserves protected areas marine parks added australias national representative system marine protected areas.like protected areas land marine reserves created protect biodiversity generations come.marine reserves identified based criteria written document created australian new zealand environment conservation council called guidelines establishing national representative system marine protected areas also known guidelines. |
Great Barrier Reef | guidelines nationally recognised implemented local level based australian policy implementation outlined goals principles establishment national representative system marine protected areas commonwealth waters.policies place make sure marine reserve added nrsmpa careful evaluation different data.the priorities region created based human environmental threats marine bioregional plans drafted address priorities.assess different regions priorities three steps taken first bioregional profile created second bioregional plan drafted third plan finalised.plan finalised activity different bioregions may become limited based particular threats activity may pose.in gbrmpa released report declining water quality great barrier reef detailed importance issue.response report australian queensland governments launched joint initiative improve quality water entering great barrier reef. |
Great Barrier Reef | decline quality water past years due development contributed coral bleaching algal blooms pesticide pollution.forms pollution made reef less resilient climate change.when plan introduced october originally contained actions built previous legislation.immediate goal halt reverse decline water quality entering reef .hope quality water entering reef improves enough doesnt detrimental impact health great barrier reef.achieve goals decided reduce pollutants water entering reef rehabilitate conserve areas reef naturally help reduce water pollutants. |
Great Barrier Reef | achieve objectives described plan focuses nonpoint sources pollution cannot traced single source waste outlet.the plan specifically targets nutrients pesticides sediment make way reef result agricultural activities.nonpoint sources pollution attributed urban areas covered different legislation.plan updated.updated version states date none efforts undertaken improve quality water entering reef successful.new plan attempts address issue targeting priority outcomes integrating industry community initiatives incorporating new policy regulatory frameworks reef plan . |
Great Barrier Reef | updated version improved clarity previous plan targets set plan improved accountability improved monitoring assessment.report found actions met original goals however progressing well according evaluation criteria well rated unsatisfactory levels progress.some key achievements made since plans initial passing establishment reef quality partnership set targets report findings monitor progress towards targets improved land condition landowners rewarded extended leases water quality improvement plans created identify regional targets identified management changes needed made reach targets nutrient management zones created combat sediment loss particular areas education programs started help gather support sustainable agriculture changes land management practices taken place implementation farm management systems codes practice creation queensland wetland program achievements made help improve water quality flowing coral reefs.a taskforce scientists also created assess impact different parts plan quality water flowing coral reefs.found many goals yet reached found evidence states improving water quality great barrier reef improve resilience climate change.reefocus summit also detailed report came similar conclusions.stakeholder working group formed worked several groups well australian queensland governments update reef goals objectives. |
Great Barrier Reef | updated version plan focuses strategic priority areas actions achieve goals.also quantitative targets made critically assess whether targets met.some examples water quality goals outlined plan reduction nitrogen phosphorus loads end catchments reduction sediment load .plan also outlines number steps must taken landholders help improve grazing soil nutrient chemical management practices.also number supporting initiatives take place outlined plan help create framework improve land use practices turn improve water quality.through means governments australia queensland hope improve water quality .outlook report revised water quality plan assess needs done future improve water quality livelihoods wildlife resides there.in july new zoning plan took effect entire marine park widely acclaimed new global benchmark marine ecosystem conservation. |
Great Barrier Reef | rezoning based application systematic conservation planning techniques using marxan software.protection across marine park improved highly protected zones increased ... time largest marine protected area world although new northwestern hawaiian islands national monument became largest.in review great barrier reef marine park act recommended zoning plan changes every five years peerreviewed outlook report published examining reefs health management environmental pressures.outlook report several assessments required.assessment set assessment criteria allows better presentation available evidence. |
Great Barrier Reef | assessment judged criteria given grade.every outlook report follows judging grading process information tracked time.new research done produce report.readily available information goes report little known reef actually featured outlook report.abbot point coal port dredge dumping controversy december greg hunt australian environment minister approved plan dredging create three shipping terminals part construction coalport. |
Great Barrier Reef | according corresponding approval documents process create around million cubic metres dredged seabed dumped within great barrier reef marine park area.on january gbrmpa issued dumping permit allow three million cubic metres sea bed abbot point north bowen transported unloaded waters great barrier reef marine park.potential significant harms identified relation dredge spoil process churning sea floor area exposing air firstly new research shows finer particles dredge spoil cloud water block sunlight thereby starving sea grass coral distances km away point origin due actions wind currents.furthermore dredge spoil literally smother reef sea grass death storms repeatedly resuspend particles harm caused ongoing secondly disturbed sea floor release toxic substances surrounding environment.the dredge spoil abbot point port project dumped kilometres mi away near bowen north queensland approval authority result production extra million tonnes coal annually worth a. billion .billion.authority chairman dr russell reichelt stated confirmation approvalthis approval line agencys view port development along great barrier reef coastline limited existing ports. |
Great Barrier Reef | deepwater port operation nearly years abbot point better placed ports along great barrier reef coastline undertake expansion capital maintenance dredging required significantly less would required areas.important note seafloor approved disposal area consists sand silt clay contain coral reefs seagrass beds.the approval provided corresponding set new environmental conditions include followinga longterm water quality monitoring plan extending five years disposal activity completed.a heritage management plan protect catalina second world war aircraft wreck abbot bay.the establishment independent dredging disposal technical advice panel management response group include community representatives.the australian federal government announced november would ban dumping dredge spoil great barrier reef marine park.world heritage committee asked environment minister greg hunt investigate alternative options dump land instead.queensland government commonwealth accepted alternative option advice world heritage committee commence dumping land.tourism due vast biodiversity warm clear waters accessibility tourist boats called live aboards reef popular destination especially scuba divers. |
Great Barrier Reef | tourism great barrier reef concentrated cairns also whitsundays due accessibility.areas make – parks area.whitsundays cairns plans management.many cities along queensland coast offer daily boat trips.several continental coral cay islands resorts including green island lady elliot island. |
Great Barrier Reef | islands great barrier reef supported resorts.in tourism region domestically generated popular visiting times australian winter.time estimated tourists great barrier reef contributed million per annum.largest commercial activity region estimated tourism generated billion annually estimate increased a. billion.deloitte report published great barrier reef marine park authority march states reefs kilometres coastline attracts tourism worth a. billion annually employs people.approximately two million people visit great barrier reef year.although visits managed partnership marine tourism industry concern among general public tourism harmful great barrier reef.a variety boat tours cruises offered single day trips longer voyages. |
Great Barrier Reef | boat sizes range dinghies superyachts.glassbottomed boats underwater observatories also popular helicopter flights.far popular tourist activities great barrier reef snorkelling diving pontoons often used area often enclosed nets.outer part great barrier reef favoured activities due water quality.management tourism great barrier reef geared towards making tourism ecologically sustainable.daily fee levied goes towards research great barrier reef. |
Great Barrier Reef | fee ends gbrmpas income.policies cruise ships bareboat charters anchorages limit traffic great barrier reef.the problems surround ecotourism great barrier reef revolve around permanent tourism platforms.platforms large shiplike vessels act base tourists scuba diving snorkelling great barrier reef.seabirds land platforms defecate eventually washed sea.feces carry nitrogen phosphorus often ddt mercury cause aspergillosis yellowband disease black band disease.areas without tourism platforms . |
Great Barrier Reef | diseased corals versus areas tourism platforms diseased corals.tourism major economic activity region.thus nonpermanent platforms could possible areas overall permanent platforms likely necessity.solutions suggested siphon bird waste gutters connecting tanks helping lower runoff causes coral disease.the great barrier reef marine park authority also placed many permanent anchorage points around general use areas.act reduce damage reef due anchoring destroying soft coral chipping hard coral disturbing sediment dragged across bottom. |
Great Barrier Reef | tourism operators also must comply speed limits travelling tourist destinations prevent excessive wake boats disturbing reef ecosystem.fishing fishing industry great barrier reef controlled queensland government worth billion annually.employs approximately people fishing great barrier reef pursued commercially recreation traditional means feeding ones family.dugong hunting native title act native title holders retain right legally hunt dugongs green turtles personal domestic noncommercial communal needs.four traditional owners groups agreed cease hunting dugongs area due declining numbers partially accelerated seagrass damage cyclone yasi.see also catlin seaview surveycoral trianglegalápagos islandsislands great barrier reefkomodo national parklist reefsocean acidification great barrier reefsixth extinctionvaldes peninsula references reading bell peter . |
Great Barrier Reef | aims first twentyfive years.townsville australian institute marine science.isbn .bowen james bowen margarita .great barrier reef history science heritage.cambridge cambridge university press. |
Great Barrier Reef | isbn .done t.j. .patterns distribution coral communities across central great barrier reef.coral reefs.–.bibcodecorre......d. doi.bf. |
Great Barrier Reef | scid .research publications.great barrier reef marine park authority.archived original july .hutchings pat kingsford mike hoeghguldberg ove .great barrier reef biology environment management.csiro publishing. |
Great Barrier Reef | isbn .lucas p.h.c.et al..outstanding universal value great barrier reef world heritage area.great barrier reef marine park authority. |
Great Barrier Reef | isbn .mather p. bennett i. eds..coral reef handbook guide geology flora fauna great barrier reef rd ed.. chipping north surrey beatty sons pty ltd. isbn .external links great barrier reef works.howstuffworks.com.world heritage listing great barrier reefgreat barrier reef marine park authoritycrc reef research centredive great barrier reef. |
Interest | national geographic.battle reef – four corners – abc.augreat barrier reef scientists confirm largest dieoff corals recorded.guardian.november .distinct fee borrower may pay lender third party.also distinct dividend paid company shareholders owners profit reserve particular rate decided beforehand rather pro rata basis share reward gained risk taking entrepreneurs revenue earned exceeds total costs.for example customer would usually pay interest borrow bank pay bank amount amount borrowed customer may earn interest savings may withdraw originally deposited.case savings customer lender bank plays role borrower.interest differs profit interest received lender whereas profit received owner asset investment enterprise.interest may part whole profit investment two concepts distinct accounting perspective.the rate interest equal interest amount paid received particular period divided principal sum borrowed lent usually expressed percentage.compound interest means interest earned prior interest addition principal.due compounding total amount debt grows exponentially mathematical study led discovery number e. practice interest often calculated daily monthly yearly basis impact influenced greatly compounding rate. |
Interest | history according historian paul johnson lending food money commonplace middle eastern civilizations early bc.argument acquired seeds animals could reproduce used justify interest ancient jewish religious prohibitions usury נשך neshekh represented different view.the first written evidence compound interest dates roughly bc.annual interest rate roughly .compound interest necessary development agriculture important urbanization.while traditional middle eastern views interest result urbanized economically developed character societies produced new jewish prohibition interest showed pastoral tribal influence.early nd millennium bc since silver used exchange livestock grain could multiply laws eshnunna instituted legal interest rate specifically deposits dowry. |
Interest | early muslims called riba translated today charging interest.the first council nicaea forbade clergy engaging usury defined lending interest percent per month .aer.ninth century ecumenical councils applied regulation laity.catholic church opposition interest hardened era scholastics even defending considered heresy.st. thomas aquinas leading theologian catholic church argued charging interest wrong amounts double charging charging thing use thing.in medieval economy loans entirely consequence necessity bad harvests fire workplace conditions considered morally reproachable charge interest. |
Interest | also considered morally dubious since goods produced lending money thus compensated unlike activities direct physical output blacksmithing farming.reason interest often looked upon islamic civilization almost scholars agreeing quran explicitly forbids charging interest.medieval jurists developed several financial instruments encourage responsible lending circumvent prohibitions usury contractum trinius.in renaissance era greater mobility people facilitated increase commerce appearance appropriate conditions entrepreneurs start new lucrative businesses.given borrowed money longer strictly consumption production well interest longer viewed manner.the first attempt control interest rates manipulation money supply made banque de france .islamic finance latter half th century saw rise interestfree islamic banking finance movement applies islamic law financial institutions economy.countries including iran sudan pakistan taken steps eradicate interest financial systems. |
Interest | rather charging interest interestfree lender shares risk investing partner profit loss sharing scheme predetermined loan repayment interest prohibited well making money money unacceptable.financial transactions must assetbacked charge interest fee service lending.history mathematics thought jacob bernoulli discovered mathematical constant e studying question compound interest.realized account starts .pays say interest per year end year value . |
Interest | interest computed added twice year multiplied .twice yielding .×... compounding quarterly yields .×..... on.bernoulli noticed frequency compounding increased without limit sequence modeled follows lim n → ∞ n n e displaystyle lim nrightarrow infty leftdfrac nrightne n number times interest compounded year.economics economics rate interest price credit plays role cost capital. |
Interest | free market economy interest rates subject law supply demand money supply one explanation tendency interest rates generally greater zero scarcity loanable funds.over centuries various schools thought developed explanations interest interest rates.school salamanca justified paying interest terms benefit borrower interest received lender terms premium risk default.sixteenth century martín de azpilcueta applied time preference argument preferable receive given good rather future.accordingly interest compensation time lender forgoes benefit spending money.on question interest rates normally greater zero french economist annerobertjacques turgot baron de laune proposed theory fructification.applying opportunity cost argument comparing loan rate rate return agricultural land mathematical argument applying formula value perpetuity plantation argued land value would rise without limit interest rate approached zero. |
Interest | land value remain positive finite keeps interest rate zero.adam smith carl menger frédéric bastiat also propounded theories interest rates.late th century swedish economist knut wicksell interest prices elaborated comprehensive theory economic crises based upon distinction natural nominal interest rates.wicksells approach refined bertil ohlin dennis robertson became known loanable funds theory.notable interest rate theories period irving fisher john maynard keynes.calculation simple interest simple interest calculated principal amount portion principal amount remains. |
Interest | excludes effect compounding.simple interest applied time period year example every month.simple interest calculated according following formula r ⋅ b ⋅ n displaystyle frac rcdot bcdot mn wherer simple annual interest rateb initial balancem number time periods elapsed andn frequency applying interest.for example imagine credit card holder outstanding balance simple annual interest rate .per annum applied monthly frequency applying interest per year.one month .× . |
Interest | displaystyle frac .times .interest due rounded nearest cent.simple interest applied months would .× × .displaystyle frac .times times .card holder pays interest end months total amount interest paid would . |
Interest | × × .per month × months .displaystyle frac .times times .text per monthtimes text months.simple interest applied months calculated above.one cent difference arises due rounding nearest cent. |
Interest | compound interest compound interest includes interest earned interest previously accumulated.compare example bond paying percent semiannually coupons percent twice year certificate deposit gic pays percent interest year.total interest payment per par value cases holder semiannual bond receives half per year months time preference opportunity reinvest first coupon payment first months earn additional interest.for example suppose investor buys par value us dollar bond pays coupons twice year bonds simple annual coupon rate percent per year.means every months issuer pays holder bond coupon dollars per dollars par value.end months issuer pays holder r ⋅ b ⋅ n × × displaystyle frac rcdot bcdot mnfrac times times assuming market price bond trading par value suppose holder immediately reinvests coupon spending another par value bond.total investor therefore holds r n ⋅ b × displaystyle leftfrac rnrightcdot bleftfrac righttimes earns coupon end next months r ⋅ b ⋅ n × × × displaystyle beginalignedfrac rcdot bcdot mnfrac times leftrightfrac times leftfrac righttimes endaligned assuming bond remains priced par investor accumulates end full months total value × × × × displaystyle beginalignedfrac times frac times leftfrac righttimes times leftfrac rightendaligned investor earned total × − × − displaystyle beginalignedtimes leftfrac righttimes leftleftfrac rightrightendaligned formula annual equivalent compound interest rate r n n − displaystyle leftfrac rnrightn wherer simple annual rate interestn frequency applying interestfor example case simple annual rate annual equivalent compound rate − . |
Interest | − .displaystyle leftfrac right.. formulations outstanding balance bn loan n regular payments increases period growth factor according periodic interest decreases amount paid p end period b n r b n − − p displaystyle bnbig rbig bnp wherei simple annual loan rate decimal form example .. loan rate rate used compute payments balances.r period interest rate example monthly payments b initial balance equals principal sumby repeated substitution one obtains expressions bn linearly proportional b p use formula partial sum geometric series results b n r n b − r n − r p displaystyle bnrnbfrac rnrp solution expression p terms b bn reduces p r r n b − b n r n − displaystyle prleftfrac rnbbnrnright find payment loan finished n payments one sets bn .the pmt function found spreadsheet programs used calculate monthly payment loan p p rate num pv fv p r n − b b n displaystyle pmathrm pmt textratetextnumtextpvtextfvmathrm pmt rnbbn interestonly payment current balance would p r b .displaystyle pirb.total interest paid loan n p − b .displaystyle itnpb. |
Interest | formulas regular savings program similar payments added balances instead subtracted formula payment negative one above.formulas approximate since actual loan balances affected rounding.avoid underpayment end loan payment must rounded next cent.consider similar loan new period equal k periods problem above.rk pk new rate payment b k b ′ r k b − p k .displaystyle bkbrkbpk. |
Interest | comparing expression bk note r k r k − displaystyle rkrk p k p r r k .displaystyle pkfrac prrk.last equation allows us define constant problems b ∗ p r p k r k displaystyle bfrac prfrac pkrk bk written b k r k b − r k b ∗ .displaystyle bkrkbrkb.solving rk find formula rk involving known quantities bk balance k periods r k b − b k b ∗ − b displaystyle rkfrac bbkbb .since b could balance loan formula works two balances separate k periods used compute value annual interest rate.b scale invariant since change changes length period.rearranging equation b one obtains transformation coefficient scale factor λ k p k p r k r r k − r k k − r ⋯ displaystyle lambda kfrac pkpfrac rkrfrac rkrkleftfrac krcdots right see binomial theoremand see r p transform manner r k λ k r displaystyle rklambda kr p k λ k p displaystyle pklambda kp .the change balance transforms likewise δ b k b ′ − b λ k r b − λ k p λ k δ b displaystyle delta bkbblambda krblambda kplambda kdelta b gives insight meaning coefficients found formulas above. |
Interest | annual rate r assumes one payment per year effective rate monthly payments.monthly payments monthly interest paid payment compounded annual rate ·r would make sense.one made interestonly payments amount paid year would ·r·b.substituting pk rk b equation bk obtain b k b − r k b ∗ − b displaystyle bkbrkbb .since bn solve b b ∗ b r n .displaystyle bbleftfrac rnright.substituting back formula bk shows linear function rk therefore λk b k b − r k r n b − λ k λ n displaystyle bkbleftfrac rkrnrightbleftfrac lambda klambda nright .this easiest way estimating balances λk known. |
Interest | substituting first formula bk solving λk obtain λ k r λ k displaystyle lambda krlambda k .λ λn found using formula λk computing λk recursively λ λn.since p rb formula payment reduces p r λ n b displaystyle pleftrfrac lambda nrightb average interest rate period loan r loan n b r λ n − n displaystyle rtextloanfrac itnbrfrac lambda nfrac n less r n .discount instruments us canadian tbills short term government debt different calculation interest.interest calculated − pp p price paid.instead normalizing year interest prorated number days t·.see also day count convention. |
Interest | total calculation − pp·t·.equivalent calculating price process called discounting simple interest rate.rules thumb rule age electronic computing power widely available flat rate consumer loans united states america would priced using rule sum digits method.sum integers .technique required simple calculation.payments remain constant life loan however payments allocated interest progressively smaller amounts. |
Interest | oneyear loan first month interest owed life loan due second month progressing twelfth month interest due.practical effect rule make early payoffs term loans expensive.oneyear loan approximately interest due collected sixth month payoff principal cause effective interest rate much higher apy used calculate payments.in united states outlawed use rule interest connection mortgage refinancing consumer loans five years term.certain jurisdictions outlawed application rule certain types loans particularly consumer loans.rule approximate long takes money double given interest rate accumulated compound interest reach exceed initial deposit divide percentage interest rate. |
Interest | example compounding annual interest rate percent take years money double.the rule provides good indication interest rates .in case interest rate percent rule predicts money double years...d.p.displaystyle ..text d.p. |
Interest | case interest rate percent rule predicts money double years...d.p.displaystyle ..text d.p. |
Interest | market interest rates markets investments include money market bond market well retail financial institutions like banks set interest rates.specific debt takes account following factors determining interest rate opportunity cost deferred consumption opportunity cost encompasses use money could put including lending others investing elsewhere holding cash spending funds.charging interest equal inflation preserves lenders purchasing power compensate time value money real terms.lender may prefer invest another product rather consume.return might obtain competing investments factor determining interest rate demand.inflation since lender deferring consumption wish bare minimum recover enough pay increased cost goods due inflation. |
Interest | future inflation unknown three ways might achievedcharge x interest plus inflation many governments issue realreturn inflation indexed bonds.principal amount interest payments continually increased rate inflation.see discussion real interest rate.decide expected inflation rate.still leaves lender exposed risk unexpected inflation.allow interest rate periodically changed.fixed interest rate remains throughout life debt variable floating rates reset. |
Interest | derivative products allow hedging swaps two.however interest rates set market happens frequently insufficient compensate inflation example times high inflation example oil crisis currently real yields many inflationlinked government stocks negative.default always risk borrower become bankrupt abscond otherwise default loan.risk premium attempts measure integrity borrower risk enterprise succeeding security collateral pledged.example loans developing countries higher risk premiums us government due difference creditworthiness.operating line credit business higher rate mortgage loan.the creditworthiness businesses measured bond rating services individuals credit scores credit bureaus. |
Interest | risks individual debt may large standard deviation possibilities.lender may want cover maximum risk lenders portfolios debt lower risk premium cover probable outcome.composition interest rates economics interest considered price credit therefore also subject distortions due inflation.nominal interest rate refers price adjustment inflation one visible consumer interest tagged loan contract credit card statement etc.. nominal interest composed real interest rate plus inflation among factors.approximate formula nominal interest r π displaystyle irpi wherei nominal interest rater real interest rateand π inflation.however borrowers lenders access interest rate even subject inflation. |
Interest | furthermore expectations future inflation vary forwardlooking interest rate cannot depend single real interest rate plus single expected rate inflation.interest rates also depend credit quality risk default.governments normally highly reliable debtors interest rate government securities normally lower interest rate available borrowers.the equation r π c displaystyle irpi c relates expectations inflation credit risk nominal expected real interest rates life loan wherei nominal interest appliedr real interest expectedπ inflation expected andc yield spread according perceived credit risk.default interest default interest rate interest borrower must pay material breach loan covenant.the default interest usually much higher original interest rate since reflecting aggravation financial risk borrower.default interest compensates lender added risk.from borrowers perspective means failure make regular payment one two payment periods failure pay taxes insurance premiums loan collateral lead substantially higher interest entire remaining term loan.banks tend add default interest loan agreements order separate different scenarios.in jurisdictions default interest clauses unenforceable public policy.term shorter terms often less risk default exposure inflation near future easier predict. |
Interest | circumstances shortterm interest rates lower longerterm interest rates upward sloping yield curve.government intervention interest rates generally determined market government intervention usually central bank may strongly influence shortterm interest rates one main tools monetary policy.central bank offers borrow lend large quantities money rate determine sometimes money created ex nihilo printed major influence supply demand hence market interest rates.open market operations united states federal reserve fed implements monetary policy largely targeting federal funds rate.rate banks charge overnight loans federal funds. |
Interest | federal funds reserves held banks fed.open market operations one tool within monetary policy implemented federal reserve steer shortterm interest rates.using power buy sell treasury securities open market desk federal reserve bank new york supply market dollars purchasing u.s. treasury notes hence increasing nations money supply.increasing money supply aggregate supply funding asf interest rates fall due excess dollars banks end reserves.excess reserves may lent fed funds market banks thus driving rates.interest rates credit risk increasingly recognized business cycle interest rates credit risk tightly interrelated. |
Interest | jarrowturnbull model first model credit risk explicitly random interest rates core.lando darrell duffie singleton van deventer imai discuss interest rates issuer interestbearing instrument default.money inflation loans bonds characteristics money included broad money supply.national governments provided course country retained currency influence interest rates thus supply demand loans thus altering total loans bonds issued.generally speaking higher real interest rate reduces broad money supply.through quantity theory money increases money supply lead inflation.means interest rates affect inflation future. |
Interest | liquidity liquidity ability quickly resell asset fair nearfair value.else equal investor want higher return illiquid asset liquid one compensate loss option sell time.u.s. treasury bonds highly liquid active secondary market debts less liquid.mortgage market lowest rates often issued loans resold securitized loans.highly nontraditional loans seller financing often carry higher interest rates due lack liquidity. |
Interest | theories interest aristotles view interest aristotle scholastics held unjust claim payment except compensation ones efforts sacrifices since money nature sterile loss temporarily separated it.compensation risk trouble setting loan necessarily impermissible grounds.development theory interest seventeenth eighteenth centuries nicholas barbon c.–c.described mistake view interest monetary value arguing money typically borrowed buy assets goods stock interest charged loan type rent – payment use goods.according schumpeter barbons theories forgotten similar views put forward joseph massie .in david hume published essay money relates interest demand borrowing riches available supply demand profits arising commerce. |
Interest | schumpeter considered humes theory superior ricardo mill reference profits concentrates surprising degree commerce rather industry.turgot brought theory interest close classical form.industrialists...... share profits capitalists supply funds réflexions lxxi.share goes latter determined like prices lxxv play supply demand amongst borrowers lenders analysis outset firmly planted general theory prices.classical theory interest rate classical theory work number authors including turgot ricardo mountifort longfield j. s. mill irving fisher.strongly criticised keynes whose remarks nonetheless made positive contribution it.mills theory set chapter rate interest principles political economy. |
Interest | says interest rate adjusts maintain equilibrium demands lending borrowing.individuals lend order defer consumption sake greater quantity able consume later date owing interest earned.borrow order anticipate consumption whose relative desirability reflected time value money entrepreneurs also borrow fund investment governments borrow reasons.three sources demand compete loans.for entrepreneurial borrowing equilibrium lendingthe interest money... is... regulated... rate profits made employment capital...ricardos mills profit made precise concept marginal efficiency capital expression though concept due keynes may defined annual revenue yielded extra increment capital proportion cost.interest rate r equilibrium equal marginal efficiency capital r. rather work r r separate variables assume equal let single variable r denote common value.the investment schedule r shows much investment possible return least r. stationary economy likely resemble blue curve diagram step shape arising assumption opportunities invest yields greater r̂ largely exhausted untapped scope invest lower return.saving excess deferred anticipated consumption dependence income much described keynes see general theory classical theory definitely increasing function r. dependence income relevant classical concerns prior development theories unemployment. |
Interest | rate interest given intersection solid red saving curve blue investment schedule.long investment schedule almost vertical change income leading extreme cases broken red saving curve make little difference interest rate.in cases analysis less simple.introduction new technique leading demand new forms capital shift step right reduce steepness.sudden increase desire anticipate consumption perhaps military spending time war absorb available loans interest rate increase investment reduced amount whose return exceeds it.illustrated dotted red saving curve. |
Interest | keyness criticisms case extraordinary spending time war government may wish borrow public would willing lend normal interest rate.dotted red curve started negative showed tendency increase r government would trying buy public unwilling sell price.keynes mentions possibility point might perhaps warned classical school something wrong p. .he also remarks page classical theory explain usual supposition increase quantity money tendency reduce rate interest rate first instance.keyness diagram investment schecule lacks step shape seen part classical theory.objects thatthe functions used classical theory... furnish material theory rate interest could used tell us... rate interest level employment determines income maintained given figure.later p. keynes claims involves circular argument construct theory interest investment schedule since marginal efficiency capital partly depends scale current investment must already know rate interest calculate scale be.theories exploitation productivity abstinence classical theory interest explains capitalists share business profits premarginalist authors unable reconcile profits labor theory value excluding longfield essentially marginalist. |
Interest | responses often moral tone ricardo marx viewed profits exploitation mccullochs productivity theory justified profits portraying capital equipment embodiment accumulated labor.theory interest payment abstinence attributed nassau senior according schumpeter intended neutrally easily understood making moral claim sharply criticised marx lassalle.wicksells theory knut wicksell published interest prices elaborating comprehensive theory economic crises based upon distinction natural nominal interest rates.wicksells contribution fact twofold.first separated monetary rate interest hypothetical natural rate would resulted equilibrium capital supply demand barter economy assumed result presence money alone effective market rate could fail correspond ideal rate actuality. |
Interest | next supposed mechanism credit rate interest influence prices rise monetary rate natural level produced fall decline level rise prices.wicksell went conclude natural rate coincided monetary rate stability prices would follow.in wicksells approach refined bertil ohlin dennis robertson became known loanable funds theory.austrian theories eugen böhm von bawerk members austrian school also put forward notable theories interest rate.the doyen austrian school murray n. rothbard sees emphasis loan market makes general analysis interest mistaken view take.explains primary economic work man economy state market rate interest manifestation natural phenomenon time preference prefer present goods future goods.rothbard many writers consider rate interest price loans loan market. |
Interest | reality...the rate interest pervades time markets productive loan market strictly subsidiary time market derivative importance.interest explainable rate time preference among people.point loan market insufficient best.rather rate interest would observed stages production indeed time market capital goods used make consumers goods ordered time away final consumers goods stage economy consumption takes place.spread various stages tend toward uniformity consumers goods representing present goods producers goods representing future goods real rate interest observed. |
Interest | rothbard said interest rate equal rate price spread various stages.rothbard furthermore criticized keynesian conception interest saying one grave fundamental keynesian error persist regarding interest rate contract rate loans instead price spreads stages production.paretos indifference pareto held thatthe interest rate one many elements general system equilibrium course simultaneously determined point looking particular element caused interest.keyness theory interest rate interest one main components economic theories developed keyness general theory employment interest money.initial account liquidity preference demand money chapter demand solely function interest rate since supply given equilibrium assumed interest rate determined money supply.in later account chapter interest cannot separated economic variables needs analysed together them. |
Interest | see general theory details.religious contexts judaism jews forbidden usury dealing fellow jews lending considered tzedakah charity.however permissions charge interest loans nonjews.outlined jewish scriptures torah christians hold part old testament books tanakh.jewish publication societys tanakh christian verse numbers different parenthesesif thou lend money people even poor thee thou shalt creditor neither shall ye lay upon interest.take thou interest increase fear thy god thy brother may live thee.thou shalt give thy money upon interest give thy victuals increase.thou shalt lend upon interest thy brother interest money interest victuals interest thing lent upon interest.unto foreigner thou mayest lend upon interest unto thy brother thou shalt lend upon interest lord thy god may bless thee thou puttest thy hand unto land whither thou goest possess it.... hath withdrawn hand poor hath received interest increase hath executed mine ordinances hath walked statutes shall die iniquity father shall surely live.he putteth money interest taketh bribe innocent. |
Interest | doeth things shall never moved.several historical rulings jewish law mitigated allowances usury toward nonjews.instance thcentury commentator rabbi isaac abrabanel specified rubric allowing interest apply christians muslims faith systems common ethical basis originating judaism.medieval commentator rabbi david kimchi extended principle nonjews show consideration jews saying treated consideration borrow.islam following quotations english translations quranthose charge usury position controlled devils influence.claim usury commerce. |
Interest | however god permits commerce prohibits usury.thus whoever heeds commandment lord refrains usury may keep past earnings judgment rests god.persist usury incur hell wherein abide forever.god condemns usury blesses charities.god dislikes every sinning disbeliever.believe good works establish worship pay poordue reward lord shall fear come upon neither shall grieve. |
Interest | believe shall observe god refrain kinds usury believers.expect war god messenger.repent may keep capitals without inflicting injustice incurring injustice.debtor unable pay wait better time.give loan charity would better knew.o believe shall take usury compounded over. |
Interest | observe god may succeed.and practicing usury forbidden consuming peoples money illicitly.prepared disbelievers among painful retribution.the usury practiced increase peoples wealth gain anything god.people give charity seeking gods pleasure ones receive reward many fold.the attitude muhammad usury articulated last sermono people regard month day city sacred regard life property every muslim sacred trust.return goods entrusted rightful owners.hurt one one may hurt you. |
Interest | remember indeed meet lord indeed reckon deeds.allah forbidden take usury therefore usurious obligation shall henceforth waived.capital however keep.neither inflict suffer inequity.allah judged shall usury usury due abbas ibn abdal muttalib prophets uncle shall henceforth waived ... christianity old testament condemns practice charging interest loan act compassion taking care ones neighbor teaches making profit loan exploiting person dishonoring gods covenant exodus –.the first scholastic christian theologians saint anselm canterbury led shift thought labeled charging interest theft. |
Interest | previously usury seen lack charity.st.thomas aquinas leading scholastic theologian roman catholic church argued charging interest wrong amounts double charging charging thing use thing.aquinas said would morally wrong way one sold bottle wine charged bottle wine charged person using wine actually drink it.similarly one cannot charge piece cake eating piece cake.yet said aquinas usury does. |
Interest | money medium exchange used spent.charge money use spending therefore charge money twice.also sell time since usurer charges effect time money hands borrower.time however commodity anyone charge.condemning usury aquinas much influenced recently rediscovered philosophical writings aristotle desire assimilate greek philosophy christian theology. |
Interest | aquinas argued case usury aspects christian revelation christian doctrine reinforced aristotelian natural law rationalism.aristotles argument interest unnatural since money sterile element cannot naturally reproduce itself.thus usury conflicts natural law offends christian revelation see thought thomas aquinas.aquinas taught interest inherently unjust one charges interest sins.outlawing usury prevent investment stipulated order investor share profit must share risk.short must jointventurer. |
Interest | simply invest money expect returned regardless success venture make money simply money taking risk work effort sacrifice usury.st thomas quotes aristotle saying live usury exceedingly unnatural.islam likewise condemns usury allowed commerce albaqarah – alternative suggests investment sharing profit loss instead sharing profit interests.judaism condemns usury towards jews allows towards nonjews deut.–. |
Interest | st thomas allows however charges actual services provided.thus banker creditlender could charge actual work effort carry example fair administrative charges.catholic church decree fifth council lateran expressly allowed charges respect creditunions run benefit poor known montes pietatis.in th century cardinal hostiensis enumerated thirteen situations charging interest immoral.important lucrum cessans profits given allowed lender charge interest compensate profit foregone investing money rothbard p. .idea similar opportunity cost. |
Interest | many scholastic thinkers argued ban interest charges also argued legitimacy lucrum cessans profits example pierre jean olivi st. bernardino siena.however hostiensis exceptions including lucrum cessans never accepted official roman catholic church.the westminster confession faith confession faith upheld reformed churches teaches usurycharging interest rateis sin prohibited eighth commandment.the roman catholic church always condemned usury modern times rise capitalism disestablishment catholic church majority catholic countries prohibition usury enforced.pope benedict xivs encyclical vix pervenit gives reasons usury sinfulthe nature sin called usury proper place origin loan contract ... demands nature one return another much received.sin rests fact sometimes creditor desires given ... gain exceeds amount gave illicit usurious.one cannot condone sin usury arguing gain great excessive rather moderate small neither condoned arguing borrower rich even arguing money borrowed left idle spent usefully ...the congregation missionary sons immaculate heart mary catholic christian religious order thus teaches thatit might initially seem like little stake comes interest issue human dignity.person made gods image therefore may never treated thing.interest diminish human person thing manipulated money. |
Interest | article catholic worker dorothy day articulated well talk people living usury ...knowing way infertile money bred money wise investment god knows devilish nerve gas drugs napalm missiles vanities housing employment .. |
Interest | .poor needed money could invested thoughts precursor pope francis calls economy kills.sin say god gods presence harming others creation.charging interest indeed sinful takes advantage person need well means investing corporations involved harming gods creatures.see also actuarial notationcredit card interestcredit rating agencydirti discountfisher equationhire purchaseinterest expenseleasingpromissory noteriskfree interest rate notes references duffie darrell kenneth j. singleton . |
Interest | credit risk pricing measurement management.princeton university press.isbn .kellison stephen g. .theory interest.richard d. irwin inc. library congress catalog card no. |
Interest | .lando david .credit risk modeling theory applications.princeton university press.isbn .van deventer donald r. kenji imai .credit risk models basel accords. |
Interest | john wiley sons.isbn .schumpeter joseph .history economic analysis.allen unwin.external links white paper math lost art interest calculationmortgages made clear financial services authority uklist current interest ratesworld interest ratesforex motionwhich way paydeposit rates european countries |
Cryptocurrency | despite name cryptocurrencies necessarily considered currencies traditional sense varying categorical treatments applied including classification commodities securities well currencies cryptocurrencies generally viewed distinct asset class practice.crypto schemes use validators maintain cryptocurrency.proofofstake model owners put tokens collateral.return get authority token proportion amount stake.generally token stakers get additional ownership token time via network fees newly minted tokens reward mechanisms.cryptocurrency exist physical form like paper money typically issued central authority. |
Cryptocurrency | cryptocurrencies typically use decentralized control opposed central bank digital currency cbdc.cryptocurrency minted created prior issuance issued single issuer generally considered centralized.implemented decentralized control cryptocurrency works distributed ledger technology typically blockchain serves public financial transaction database.a cryptocurrency tradable digital asset digital form money built blockchain technology exists online.cryptocurrencies use encryption authenticate protect transactions hence name.currently thousand different cryptocurrencies world supporters see key fairer future economy.bitcoin first released opensource software first decentralized cryptocurrency. |
Cryptocurrency | since release bitcoin many cryptocurrencies created.history american cryptographer david chaum conceived anonymous cryptographic electronic money called ecash.later implemented digicash early form cryptographic electronic payments required user software order withdraw notes bank designate specific encrypted keys sent recipient.allowed digital currency untraceable issuing bank government third party.in national security agency published paper entitled make mint cryptography anonymous electronic cash describing cryptocurrency system first publishing mit mailing list later american law review vol.issue .in wei dai published description bmoney characterized anonymous distributed electronic cash system. |
Cryptocurrency | shortly thereafter nick szabo described bit gold.like bitcoin cryptocurrencies would follow bit gold confused later goldbased exchange bitgold described electronic currency system required users complete proof work function solutions cryptographically put together published.in first decentralized cryptocurrency bitcoin created presumably pseudonymous developer satoshi nakamoto.used sha cryptographic hash function proofofwork scheme.april namecoin created attempt forming decentralized dns would make internet censorship difficult.soon october litecoin released. |
Cryptocurrency | used scrypt hash function instead sha.another notable cryptocurrency peercoin used proofofworkproofofstake hybrid.on august uk announced treasury commissioned study cryptocurrencies role could play uk economy.study also report whether regulation considered.final report published issued consultation cryptoassets stablecoins january .in june el salvador became first country accept bitcoin legal tender legislative assembly voted – pass bill submitted president nayib bukele classifying cryptocurrency such.in august cuba followed resolution recognize regulate cryptocurrencies bitcoin.in september government china single largest market cryptocurrency declared cryptocurrency transactions illegal completing crackdown cryptocurrency previously banned operation intermediaries miners within china.formal definition according jan lansky cryptocurrency system meets six conditionsthe system require central authority state maintained distributed consensus.the system keeps overview cryptocurrency units ownership.the system defines whether new cryptocurrency units created. |
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