Molly establishes a line of credit with a deposit of 1000 dollars. Two months later, she withdraws 1016 dollars. Three months after that, she deposits 2313 dollars. Two months after that, she withdraws 2350.01 dollars. Three months after that, she deposits 1337.48 dollars. A year after establishing the line of credit, she makes a withdrawal of 1358.88 dollars that closes the account. What are the possible nominal rates of interest convertible monthly? (If you find more than one, list them separated by commas.)
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.
Molly establishes a line of credit with a deposit of 1000 dollars. Two months later, she withdraws 1016 dollars. Three months after that, she deposits 2313 dollars. Two months after that, she withdraws 2350.01 dollars. Three months after that, she deposits 1337.48 dollars. A year after establishing the line of credit, she makes a withdrawal of 1358.88 dollars that closes the account. What are the possible nominal rates of interest convertible monthly? (If you find more than one, list them separated by commas.)
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