Abigail has $30.00 to buy groceries. She needs to buy some apples, some bananas, and 3 pounds of potatoes. Fuji apples are $1.79
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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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the idea being, you multiply the "x" by some power of 10 that moves the repeating part to the left of the decimal point and the split it like above.