Yumi's grandparents presented her with a gift of $12,000 when she was 10 yr old to be used for her college education. Over the next 7 yr, until she turned 17, Yumi's parents had invested her money in a tax-free account that had yielded interest at the rate of 5.5%/year compounded monthly. Upon turning 17, Yumi now plans to withdraw her funds in equal annual installments over the next 4 yr, starting at age 18. If the college fund is expected to earn interest at the rate of 6%/year, compounded annually, what will be the size of each installment? (Assume no interest is accrued from the point she turns 17 until she makes the first withdrawal. Round your answer to the nearest cent.)

Answer 1

A certain drug leaves the bloodstream at a rate of 22% per hour. If you are given an initial dose of 20 mg, how long until there are 10 mg in your bloodstream?