Explain this!
Junior Member
- Joined
- Feb 7, 2019
- Messages
- 164
The monthly advisory fee for an account with $100,000 is as follows: $1000,000 * 0.0025 * 30/365 = $20.55
How would this calculation appear using dimensional analysis? Are any of the following correct?
$100,000 * (12 months)/year * 0.0025/month * (30/365) year, or is it $100,000/month * 12 month/year * 0.0025 * (30/365) year?
What about this example. Determine the interest on $635 for 6 days at 6% using 360 days for the year.
$635 * $0.06/year * 1 year/360 days * 6 days = $0.635, or is it $635/year * $0.06 * 1 year/360 days * 6 days = $0.635?
What about the following: The sales tax for a taxable item is 7%. What is the tax on two items?
$0.07/$1.00 * $1.00 /1 item * 2 items = $0.07 * 2 = $0.14
How would this calculation appear using dimensional analysis? Are any of the following correct?
$100,000 * (12 months)/year * 0.0025/month * (30/365) year, or is it $100,000/month * 12 month/year * 0.0025 * (30/365) year?
What about this example. Determine the interest on $635 for 6 days at 6% using 360 days for the year.
$635 * $0.06/year * 1 year/360 days * 6 days = $0.635, or is it $635/year * $0.06 * 1 year/360 days * 6 days = $0.635?
What about the following: The sales tax for a taxable item is 7%. What is the tax on two items?
$0.07/$1.00 * $1.00 /1 item * 2 items = $0.07 * 2 = $0.14