Leonardo de Pisa

da Vinci of Pisa or Fibonacci and the foreshorten of Moneylenders NFaly Konate Texas A&M University Central Texas FIN 590 Dr. Mary Kelly Summer 2012 Federal Italy in the early thirteen century was a land subdivided into quintuple feuding city-states. Among the many remnants of defunct Roman Empire was a numerical outline (I, ii, iii, iv) singularly ill suited to complex mathematical calculation, allow alone the needs of commerce. Nowhere was this more of a problem than in Pisa, where merchants excessively had to contend with seven different forms of coinage in circulation.By comparison, sparing life in the Eastern world was far more advanced, unspoiled as it had been in the time of Charlemagne. To discover modern finance, Europe needful to import it. In this, a young mathematician called Leonardo of Pisa, or Fibonacci vie a crucial role. Leonardo Fibonacci also know as Leonardo Pisano, Leonardo of Pisa,was the greatest European mathematician of the middle ages. He was born in Pisa in Italy circa 1170 and died sometime after 1240.Leonardos father, Gugliemo, was a customs decreed and engaged in commerce representing Pisa at Bougie on the north brim of Africa. Young Leonardo consequently received a Moorish study as well as the traditional European education and was introduced to Hindu-Arabic numbers. posterior on, he traveled about the Mediterranean visiting Egypt, Syria, Greece, Sicily and Provence, meeting with scholars and bonny acquainted with the various arithmetical systems used by the merchants.In his book, the Liber abaci, which fills 459 printed pages, he explained the nearly perfect methods of calculating with whole numbers and with fractions, practice, extraction of the square and stop roots, proportion, chain rule, finding of proportional parts, averages, progressions, even compound interest, just as in the completest mercantile arithmetic of later days. They teach further the beginning of problems leading to equations of the first a nd second degree, to determinate and indeterminate equations, not by single and double position scarcely, but by real algebra, prove by means of geometric onstructions, and including the use of letters as symbols for known numbers, the unknown quantity being called res and its square census. The book is also largely responsible for introducing Arabic numerals to Europe. Leonardo of Pisa is also considered a primordial Player in the Finance because of his introduction of Hindu-Arabic numerals. Finally, he not only gave Europe the decimal system, which makes all kinds of calculation far easier than with Roman numerals, he also showed how it could be applied to commercial bookkeeping, to currency conversions and crucially, to the calculation of interest.References 1) Ferguson, N (2008). Dreams of Avarice. The Ascent of Money A Financial History of the World. (Pages 33-36). Penguin Books. 2) MM Del Rosario (no date). Retrieved June 12, 2012, from http//mmdelrosario. hubpages. com/hub /leonardo-fibonacci 3) NNDB bring in the World (no date). Retrieved June 12, 2012, from http//www. nndb. com/people/922/000095637/