recent college graduate with $19,000 in student loans decides to leave the country without making any payments on their loans. After 22 years abroad, they return to collect the inheritance their parents have left for them, only to find that they cannot collect anything until they pay off their student loans. If the interest rate on those student loans was 7% compounded daily, what will be the balance at the end of 22 years, rounded to the nearest penny ? Use either A=P(1+(r/n))^nt or A=Pe^rt.
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.
A recent college graduate with $19,000 in student loans decides to leave the country without making any payments on their loans. After 22 years abroad, they return to collect the inheritance their parents have left for them, only to find that they cannot collect anything until they pay off their student loans. If the interest rate on those student loans was 7% compounded daily, what will be the balance at the end of 22 years, rounded to the nearest penny ? Use either A=P(1+(r/n))^nt or A=Pe^rt.
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