An Introduction to Combustion: Concepts and Applications by Stephen Turns

By Stephen Turns

"Introduction to Combustion" is the prime combustion textbook for undergraduate and graduate scholars due to its easy-to-understand analyses of easy combustion innovations and its advent of a large choice of sensible functions that encourage or relate to many of the theoretical options. this can be a textual content that's precious for junior/senior undergraduates or graduate scholars in mechanical engineering and training engineers. The 3rd version updates and provides subject matters with regards to security of our surroundings, weather swap, and effort use. also, a brand new bankruptcy is further on fuels because of the endured specialise in conservation and effort independence.

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On a few occasions, the yield curve has had a downward slope where short-term yields exceed long-term yields; yields decline as maturities increase. Such a situation occurred in 1979, 1981, and 1982. A downward sloping yield curve may indicate an economic recession, but it also gives an outlook on inflation. Investors expect declining future long-term interest rates and benign inflation due to fears of recession; consequently, they are willing to invest in long-term bonds to lock into those yields.

41 CHAPTER 4 42 YIELD Yield is a measure of return to a bond investor. If you are interested in investing in a 10-year Treasury bond, you would want to know what your earnings would be from the bond. 249 percent, providing you with a yardstick for your potential return from such an investment. 18 percent. A relationship exists between bond yields and price, as illustrated in Figure 4-1. When bond yields increase, prices of existing bonds decrease. Similarly, when bond yields decrease, prices of existing bonds increase.

Figure 4-3 illustrates the factors that affect the price of a bond. The characteristics and the investor’s risk assessment of a bond affect the investor’s FIGURE 4-3 Factors that Affect the Value of a Bond Bond Characteristics Investor’s Risk Assessment Coupon rate of bond Investor’s risk assessment of the characteristics of the bond Timing of interest payments Investor’s willingness to take risks Risk of receiving interest and principal payments Determine Investor’s Required Rate of Return CHAPTER 4 50 required rate of return, which then determines the price of the bond.

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An Introduction to Combustion: Concepts and Applications by Stephen Turns
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