Solve For X Where X = (1 + APR/M)^M - 1. Assume APR = 8.00% And M = 4.00.

Mathematics

1 answer:

jekas [21]2 years ago

4 0

The value of X where X = (1 + APR/M)^M - 1. assume APR = 8.00% And M = 4.00 is 1.061208

<h3>How to determine the value of x?</h3>

The formula is given as:

X = (1 + APR/M)^M - 1

Where

APR = 8.00%

M = 4.00

Substitute the above values in the formula X = (1 + APR/M)^M - 1

So, we have

X = (1 + 8%/4)^4- 1

Evaluate the difference and the quotient

X = (1 + 0.02)^3

Evaluate the sum

X = (1.02)^3

Evaluate the exponent

X = 1.061208

Hence, the value of X where X = (1 + APR/M)^M - 1. assume APR = 8.00% And M = 4.00 is 1.061208

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