Answer is given above
Doug paid a maturity value of $5015.52 on a 2-year note with annual interest of 8% (or 0.08). Use the formula Upper M equal
1 answer:
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Answer:
The expression simplifies to .
Step-by-step explanation:
The expression
can be rearranged and written as
In this form the terms in the numerator and in the denominator cancel to give
The are present both in the numerator and in the denominator, so they also cancel, and the fraction
simplifies to
, so finally our expression becomes:
Which is our answer:)