Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
![**Question 2: Compound Interest Calculation**
**Introduction:**
The problem involves understanding how compound interest works, specifically compounded quarterly. We aim to determine the time it will take for an initial investment to grow to a specified amount given a fixed annual interest rate.
**Problem Statement:**
- How long will it take $5,000 to grow to $20,000 if the investment earns interest at the rate of 6% per year, compounded quarterly?
**Explanation:**
The formula used for compound interest is:
\[ A = P \left(1 + \frac{r}{n}\right)^{nt} \]
Where:
- \( A \) is the amount of money accumulated after n years, including interest.
- \( P \) is the principal amount (the initial amount of money).
- \( r \) is the annual interest rate (decimal).
- \( n \) is the number of times that interest is compounded per year.
- \( t \) is the time in years.
**Given Values:**
- \( P = 5,000 \) (initial investment)
- \( A = 20,000 \) (desired amount)
- \( r = 0.06 \) (6% annual interest rate)
- \( n = 4 \) (compounded quarterly)
**Objective:**
To find the value of \( t \), which represents the time in years required for the investment to grow to the desired amount.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F85c8f38e-f1b1-490e-9afe-04f2f0e6a6d2%2F780f2102-2b88-4c39-b94c-3589913e176a%2Flnk43h_processed.png&w=3840&q=75)
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