Use an example to describe the multiplication relationship between two equivalent ratios
2 answers:
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Answer:
6.9%
Step-by-step explanation:
Interest rate is the one variable in an amortization formula that cannot be determined explicitly. An iterative solution is required, which means the computation must be done by a calculator, spreadsheet, or web site.
My TI-84 TVM Solver tells me that for the given loan amount and payment schedule, the APR is about 6.9%.
Answer:
Step-by-step explanation:
The first thing that would need to be done is solving for y. This problem has already done this. The next step is to exchange y for
That is all. This would mean that the function notation for the equation would be: