A local bank is running the following advertisement in the newspaper: "For just $2,000 we will pay you $120 forever!" The fine print in the ad that for a $2,000 deposit, the bank will pay $120 every year in perpetuity, starting one year after the deposit is made. What interest rate is the
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.
![A local bank is running the following advertisement in the newspaper: "For just $2,000 we will pay you $120 forever!" The fine print in the ad says
that for a $2,000 deposit, the bank will pay $120 every year in perpetuity, starting one year after the deposit is made. What interest rate is the
bank advertising (what is the rate of return of this investment)?
The interest rate the bank is advertising is
%. (Round to the nearest integer.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ea199ac-d9f9-432f-8dc8-6b9e2b6778a5%2Ffb578bfa-1603-40f8-b88f-2a0c8cdda250%2Ftxtuqpp_processed.jpeg&w=3840&q=75)
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