Amit solved the equation StartFraction 5 over 12 EndFraction = Negative StartFraction x over 420 EndFraction for x using the ste
ps shown below. What was Amit’s error?
StartFraction 5 over 12 EndFraction = Negative StartFraction x over 420 EndFraction. StartFraction 5 over 12 EndFraction (420) = Negative StartFraction x over 420 EndFraction (420). X = 175.
StartFraction 5 over 12 EndFraction = Negative StartFraction x over 420 EndFraction. StartFraction 5 over 12 EndFraction (420) = Negative StartFraction x over 420 EndFraction (420). X = 175.
2 answers:
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The nominal rate to plug in will be 0.085.
Given to us, the nominal rate is 8.5%,
The value to plug into your equation,
The equation can be simple interest or compound interest in both cases the value of the nominal rate to the plugin will be the same.
Thus, the nominal rate is 8.5% can be written as
Hence, the nominal rate to plug in will be 0.085.
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