Now imagine you are 25 years old. Use the same value of P from 1), above, but do this: Deposit P dollars a month into an account that pays 7% compounded monthly. Do this until you are 35 years old. Then, at age 35, you stop putting money into the account. You will make no more deposits into the account, but the money that you already have in it will continue to earn 7%, compounded monthly, until you reach age 65. Find the amount in your account at age 65. How much of your own money did you deposit? How much total interest did you earn? P=$400
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.
- Now imagine you are 25 years old. Use the same value of P from 1), above, but do this:
- Deposit P dollars a month into an account that pays 7% compounded monthly. Do this until you are 35 years old. Then, at age 35, you stop putting money into the account. You will make no more deposits into the account, but the money that you already have in it will continue to earn 7%, compounded monthly, until you reach age 65. Find the amount in your account at age 65.
- How much of your own money did you deposit?
- How much total interest did you earn?
P=$400
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