Part 1: Mr. Smith invests $8000 at 6% compounded semiannually for 5 years into a savings account. How much interest will be earned after 5 years? A. $2,400.00 B. $2,705.80 C. $2,751.33 D. $1,274.19
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.
Part 1: Mr. Smith invests $8000 at 6% compounded semiannually for 5 years into a savings account. How much interest will be earned after 5 years?
A. $2,400.00
B. $2,705.80
C. $2,751.33
D. $1,274.19
PART 2: The primary difference between simple interest and compound interest is that:
A. compound interest involves more than one interest period
B. only compound interest can be solved using a formula
C. only compound interest is used to solve for a maturity value
D. simple interest is not concerned with a future value
Part 3: Based on your experiences with finding APR's and APY's, what can be said about them relative to the given rates.
A. the given rate is either greater than or equal to the APR or APY
B. the given rate is either less than or equal to the APR or APY
C. they are not related in anyway
D. they are all the same value
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