174 is the missing number
What?
The slope can be found between two points by finding the change in values divided by the change in values.
Answer:
Month 1 : 0.002988
Month 2: 0.00299692814
Month 3: 0.00300588297
Step-by-step explanation:
Since we're only finding the interest for the first three months, it's easy to do it by performing the simple interest formula. But first, we need divide 3 by 12, since we calculate interest using years. 3/12 = 1/4 = 0.25
The standard simple interest calculation is done by multiplying the starting amount, by the interest, by the time, then dividing by 100 to put it into a percentage.
1 month = 1/12 or approximately 0.083 of the year.
Let's say P = 1. For the first month, it will be 1 x 3.6 x 0.083 = 0.2988 / 100
The second month, (1 + 0.002988) * 3.6 * 0.083 = 0.299692814 / 100
The third month, (1.002988 + 0.00299692814) x 3.6 x 0.083 = 0.300588297/100
Given the initial amount be 1, those would be the periodic interest rate during the first three months.
Did you just state the answer? Because it seems like you just answered the question for us.
