OHigginsBooks.com has just introduced a retirement package for its employees. Under the annuity plan operated by Sleepy Hollow, the monthly contribution by the company on behalf of each employee is $800. Each employee can then supplement that amount through payroll deductions. The current rate of return of Sleepy Hollow's retirement fund is 7.4%. John Snow, the website developer at OHigginsBooks.com, plans to retire in 10 years. She contributes $1,000 per month to the plan (in addition to the company contribution of $800). Currently, there is $60,000 in her retirement annuity. How much (to the nearest dollar) will it be worth when she retires? (Assume interest is compounded monthly.)
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.
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