Find the amount Ed has to deposit as a single lump sum and the total interest earned. Question 18. Find the amount of each monthly deposit Ed has to make and the total interest earned.
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.
Ed wants to have $10, 000 in 5 years. He opens a savings account in a bank which pays 7.2% interest
compounded monthly. He can either deposit a single lump sum or schedule monthly deposits.
Question 17. Find the amount Ed has to deposit as a single lump sum and the total interest earned.
Question 18. Find the amount of each monthly deposit Ed has to make and the total interest earned.
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