Grandma decides to put 1300 dollars every month into an account for you. She makes 15 monthly deposits, the last coming September 1, 2003 - the day you start college. She wants you to be able to withdraw money from this account at the beginning of each month, with the first withdrawal coming September 1, 2003 and the last coming June 1, 2008, (when you'll graduate). (Note: that makes 58 withdrawals total.) How much will you be able to withdraw each month if the account is earning a nominal interest rate of 9.3 percent convertible monthly?
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.
Grandma decides to put 1300 dollars every month into an account for you. She makes 15 monthly deposits, the last coming September 1, 2003 - the day you start college. She wants you to be able to withdraw money from this account at the beginning of each month, with the first withdrawal coming September 1, 2003 and the last coming June 1, 2008, (when you'll graduate). (Note: that makes 58 withdrawals total.) How much will you be able to withdraw each month if the account is earning a nominal interest rate of 9.3 percent convertible monthly?
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