e compund interes
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 house was valued at $105,000 in the year 1985. The value appreciated to $165,000 by the year 2008.
Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions.
A) What was the annual growth rate between 1985 and 2008?
rr = ? Round the growth rate to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
rr = ?%.
C) Assume that the house value continues to grow by the same percentage. What will the value equal in the year 2013 ?
value = ? $ Round to the nearest thousand dollars.
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