Match each scenario to the type of problem it best relates to. 1. Annuity 2. Compounding Interest Continuously 3. Loan (with compounding interest) 4. Simple Interest. 5. Compounding Interest Discretely A deposit of $200 is made into an account each month for the next twenty year. The account has an annual rate of 5% compounded monthly. How much money is in the account after twenty years? How long does it take a deposit of $500 to double if it is invested into an account that has an annual rate of 6.3% compounded daily. What are the monthly payments for a home purchased for $300,000 with a loan that has an annual rate of 3.9% compounded monthly for thirty years? A deposit of $300 is made into an account that compounds interest continuously with an annual rate of 6%. How much is in the account after 15 months? You deposit $2,000 into an account and plan to give it to your child in 18 years for their college education. If the money is in an account that earns an annual rate of 5.4% compounded annually, then how much is in the account after 18 years? A payday loan company offers a $200 two week loan with a fee of $15. Find the equivalent annual simple interest rate for an investment that would pay $15 in interest for a $200 deposit over two weeks.
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.
Match each scenario to the type of problem it best relates to.
1.
Annuity
2.
Compounding Interest Continuously
3.
Loan (with compounding interest)
4.
Simple Interest.
5.
Compounding Interest Discretely
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