6th Edition

ISBN: 9780134506470

Author: Pirnot

Publisher: PEARSON

Concept explainers

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 …

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 experime…

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Textbook Question

Chapter 8.3, Problem 49E

Math in Your Life: Between the Numbers

Government loans. In Example 3 we assumed an interest rate of 12 % , which could be possible with a private lender. You might be able to obtain government student loans that have much lower rates. Redo Example 3 assuming you have an interest rate of 4.8 % , and again calculate how much you would still owe on your loan after making one payment.

Example 3 Paying Off a Student Loan

Assume that you just graduated from college with $ 35 , 000 in student loans* that have a 12 % annual simple interest rate (this rate is possible with a private lender). In order to reduce your debt as quickly as possible, beginning next month you are going to pay $ 500 per month toward the loan. After your first payment, how much will you owe on your loan?

*The numbers in this example are based on a real case in which a friend asked me what the best way would be to pay off his $ 35 , 000 credit card debt.

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Chapter 8.3, Problem 48E

Chapter 8.3, Problem 50E

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Chapter 8 Solutions

Mathematics All Around (6th Edition)

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Solution Summary: The author explains how to calculate the interest on a student loan by using the simple interest formula.

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Chapter 8 Solutions