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The loan's effective rate and interest compound every two months then the value of n would be 6.
Given that,
When calculating a loan's effective rate, the interest compounds every two months.
We have to determine,
What value of n do you plug into your equation?
According to the question,
The calculation of compounded interest would be derived with the following formula:
In a year there are 12 months and when the interest rate is said to be compounded every two months then it implies that the number of months would be 6 months.
Then,
The value of n is,
Hence, The loan's effective rate and interest compounds every two months then the value of n would be 6.
For more details, about Interest Rate refers to the link given below.
Answer:
(x, y) = (4, 3)
Step-by-step explanation:
The first equation gives an expression for y that can be substituted into the second equation:
3(2x -5) -x = 5
5x -15 = 5 . . . . . . simplify
5x = 20 . . . . . . . .add 15
x = 4 . . . . . . . . . . divide by 5
y = 2(4) -5 = 3 . . substitute for x in the first equation
(x, y) = (4, 3)
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Solution by graphing confirms this result.
