Pearson eText for Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences -- Instant Access (Pearson+)

14th Edition

ISBN: 9780137553426

Author: Raymond Barnett, Michael Ziegler

Publisher: PEARSON+

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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.

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Textbook Question

Chapter 3.4, Problem 45E

A woman borrows $6,000 at 9 % compounded monthly, which is to be amortized over 3 years in equal monthly payments. For tax purposes, she needs to know the amount of interest paid during each year of the loan. Find the interest paid during the first year, the second year, and the third year of the loan. [Hint: Find the unpaid balance after 12 payments and after 24 payments.]

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Chapter 3.4, Problem 44E

Chapter 3.4, Problem 46E

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Chapter 3 Solutions

Pearson eText for Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences -- Instant Access (Pearson+)

Ch. 3.1 - (A) Your sister has loaned you 1,000 with the...Ch. 3.1 - Find die total amount due on a loan of $500 at 12...Ch. 3.1 - Repeat Example 2 with a time period of 6 months.Ch. 3.1 - Repeat Example 3, assuming that you pay $9,828.74...Ch. 3.1 - Repeat Example 4 assuming that 90 days after it...Ch. 3.1 - Repeat Example 5 if 500 shares of stock were...Ch. 3.1 - A credit card has an annual interest rate of...Ch. 3.1 - In Problems 1-4, if necessary, review Section A.I....Ch. 3.1 - In Problems 1-4, if necessary, review Section A.I....Ch. 3.1 - In Problems 1-4, if necessary, review Section A.I....

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Solution Summary: The author calculates the amount of interest paid during the first year, the second year and the third year of the loan of 6000.

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