The Early Life and Achievements of Elbert Frank Cox

Oct 13, 2025 by magicalceylontours.com 40 views

Introduction

Elbert Frank Cox, a trailblazer in the field of mathematics, made history by becoming the first Black person to receive a Ph.D. in mathematics in the United States and the world. His remarkable achievement paved the way for future generations of mathematicians and scientists. In this article, we will delve into the life of Elbert Frank Cox and explore a mathematical problem related to his story.

The Early Life and Achievements of Elbert Frank Cox

Elbert Frank Cox was born on August 5, 1895, in Evansville, Indiana. He showed a keen interest in mathematics from an early age and pursued his passion with dedication and hard work. Cox's academic achievements were impressive, and he went on to attend the University of Chicago, where he earned his Ph.D. in mathematics in 1925. This milestone marked a significant achievement in the history of mathematics, as Cox became the first Black person to receive a Ph.D. in mathematics in the United States and the world.

A Mathematical Problem Inspired by Elbert Frank Cox's Story

Let's consider a mathematical problem related to Elbert Frank Cox's story. Suppose Cox borrowed $\$12,000$ to buy a car at a yearly interest rate of $4.2\%$ . We want to calculate the amount of money Cox would owe after $t$ years, including the interest accrued.

The Formula for Compound Interest

The formula for compound interest is given by:

A = P \left(1 + \frac{r}{n}\right)^{nt}

where:

$A$ is the amount of money accumulated after $t$ years, including interest
$P$ is the principal amount (the initial amount of money borrowed)
$r$ is the annual interest rate (in decimal form)
$n$ is the number of times that interest is compounded per year
$t$ is the time the money is invested for, in years

Applying the Formula to Elbert Frank Cox's Story

In this case, we have:

$P = \$12,000$
$r = 4.2\% = 0.042$
$n = 1$ (compounded annually)
$t = t$ years (we want to find the amount of money Cox would owe after $t$ years)

Substituting these values into the formula, we get:

A = 12000 \left(1 + \frac{0.042}{1}\right)^{1t}

Simplifying the Formula

We can simplify the formula by evaluating the expression inside the parentheses:

A = 12000 (1.042)^t

Calculating the Amount of Money Owed

Now, we can use this formula to calculate the amount of money Cox would owe after $t$ years. For example, if Cox borrowed the money for 5 years, we get:

A = 12000 (1.042)^5 \approx \$13,144.19

This means that after 5 years, Cox would owe approximately $\$13,144.19$ , including the interest accrued.

Conclusion

Elbert Frank Cox's story is a testament to the power of hard work and determination. His achievement as the first Black person to receive a Ph.D. in mathematics in the United States and the world paved the way for future generations of mathematicians and scientists. The mathematical problem related to his story highlights the importance of understanding compound interest and its applications in real-life scenarios.

The Significance of Compound Interest

Compound interest is a fundamental concept in finance and economics. It is essential to understand how interest is calculated and how it affects the amount of money owed over time. The formula for compound interest is a powerful tool that can be used to calculate the amount of money accumulated after a certain period, including interest.

Real-World Applications of Compound Interest

Compound interest has numerous real-world applications, including:

Borrowing money: When you borrow money, you are charged interest on the principal amount, which is added to the principal amount over time.
Savings accounts: When you save money in a savings account, you earn interest on the principal amount, which is added to the principal amount over time.
Investments: When you invest money in a investment vehicle, such as a stock or a bond, you earn interest on the principal amount, which is added to the principal amount over time.

Conclusion

In conclusion, Elbert Frank Cox's story is a testament to the power of hard work and determination. The mathematical problem related to his story highlights the importance of understanding compound interest and its applications in real-life scenarios. Compound interest is a fundamental concept in finance and economics, and it has numerous real-world applications. By understanding how interest is calculated and how it affects the amount of money owed over time, we can make informed decisions about borrowing and saving money.

References

Cox, E. F. (1925). Ph.D. thesis. University of Chicago.
Compound Interest Formula. Retrieved from https://www.investopedia.com/terms/c/compoundinterest.asp

Introduction

In our previous article, we explored the life and achievements of Elbert Frank Cox, the first Black person to receive a Ph.D. in mathematics in the United States and the world. We also delved into a mathematical problem related to his story, involving compound interest. In this article, we will answer some frequently asked questions (FAQs) about Elbert Frank Cox and his contributions to mathematics.

Q&A

Q: Who was Elbert Frank Cox?

A: Elbert Frank Cox was a mathematician and educator who made history by becoming the first Black person to receive a Ph.D. in mathematics in the United States and the world.

Q: What was Elbert Frank Cox's contribution to mathematics?

A: Elbert Frank Cox's contribution to mathematics was his pioneering work in the field of mathematics, particularly in the area of algebra. He was a trailblazer for African American mathematicians and paved the way for future generations of mathematicians and scientists.

Q: What was the significance of Elbert Frank Cox's Ph.D. in mathematics?

A: Elbert Frank Cox's Ph.D. in mathematics marked a significant achievement in the history of mathematics, as he became the first Black person to receive a Ph.D. in mathematics in the United States and the world. This milestone paved the way for future generations of mathematicians and scientists.

Q: What is compound interest, and how does it relate to Elbert Frank Cox's story?

A: Compound interest is a type of interest that is calculated on both the principal amount and any accrued interest. In Elbert Frank Cox's story, he borrowed $\$12,000$ to buy a car at a yearly interest rate of $4.2\%$ . The formula for compound interest is given by:

A = P \left(1 + \frac{r}{n}\right)^{nt}

where:

$A$ is the amount of money accumulated after $t$ years, including interest
$P$ is the principal amount (the initial amount of money borrowed)
$r$ is the annual interest rate (in decimal form)
$n$ is the number of times that interest is compounded per year
$t$ is the time the money is invested for, in years

Q: How can compound interest be used in real-life scenarios?

A: Compound interest has numerous real-world applications, including:

Borrowing money: When you borrow money, you are charged interest on the principal amount, which is added to the principal amount over time.
Savings accounts: When you save money in a savings account, you earn interest on the principal amount, which is added to the principal amount over time.
Investments: When you invest money in a investment vehicle, such as a stock or a bond, you earn interest on the principal amount, which is added to the principal amount over time.

Q: What are some tips for understanding compound interest?

A: Here are some tips for understanding compound interest:

Understand the formula: The formula for compound interest is given by:

A = P \left(1 + \frac{r}{n}\right)^{nt}

Know the variables: Understand the variables in the formula, including the principal amount, interest rate, compounding frequency, and time.
Use a calculator: Use a calculator to calculate the amount of money accumulated after a certain period, including interest.
Practice, practice, practice: Practice calculating compound interest using different scenarios and variables.

Conclusion

In conclusion, Elbert Frank Cox's story is a testament to the power of hard work and determination. His achievement as the first Black person to receive a Ph.D. in mathematics in the United States and the world paved the way for future generations of mathematicians and scientists. The mathematical problem related to his story highlights the importance of understanding compound interest and its applications in real-life scenarios. By understanding how interest is calculated and how it affects the amount of money owed over time, we can make informed decisions about borrowing and saving money.

References

Cox, E. F. (1925). Ph.D. thesis. University of Chicago.
Compound Interest Formula. Retrieved from https://www.investopedia.com/terms/c/compoundinterest.asp