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Karo-lina-s [1.5K]
3 years ago
12

What is the value of the 5 in the number 14.5?

Mathematics
1 answer:
WINSTONCH [101]3 years ago
3 0
The alue of 5 is the tenths place.
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In an installment loan, a lender loans a borrower a principal amount P, on which the borrower will pay a yearly interest rate of i (as a fraction, e.g. a rate of 6% would correspond to i=0.06) for n years. The borrower pays a fixed amount M to the lender q times per year. At the end of the n years, the last payment by the borrower pays off the loan.

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