Original APR = 10.22% compounded monthly.
Original effective interest rate, compounded monthly
= (1+(0.1022/12))^12
= 1.10712576
Original effective interest rate, compounded daily
= (1+(0.1022/365)^365
= 1.107589126
Difference in rate due to compounding periods
= 1.107589126 - 1.10712576
= 0.00046336
= 0.04634%
I don't understand...wait do we have to answer it or fix it
Answer:
x =8.34654305
Step-by-step explanation:
Since this is a right triangle, we can use trig functions
cos theta = adjacent / hypotenuse
cos 33 = 7/x
Switching places with the x and the 33
x = 7/ cos 33
x =8.34654305