6) Bozo borrowed $10,000 from Ernie due in 4 years at 6% compounded monthly. Immediately after the debt is contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie receive?
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.
6) Bozo borrowed $10,000 from Ernie due in 4 years at 6% compounded monthly. Immediately after the debt is
contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie
receive?
7) Max the mouse needs to buy a refrigerator to hold all his cheese (a really big refrigerator). The refrigerator
Max wants requires a down payment of $2000. The refrigerator is purchased on time, with Max planning to pay
$2000 at the end of one year and $4000 at the end of 4 years. What is the cash price of the refrigerator if the
interest rate is 10% compounded monthly? (Cash = Now)
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