What is the monthly interest rate if an annual rate is 12.3%
1 answer:
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Answer:
42 feet.
See the attached picture:
So for this, this can be written into the equation 
(x = number of months, y = total cost).
To solve this problem, we need to plug in 1325 into the y-variable and solve from there.
Subtract 35 on each side to get
Then just divide by 50 on each side, and your answer should be
And because we cannot go past budget, we will have to round down to 25. In context, the maximum amount of months Abbey can do is 25 months.
To solve this problem, we need to plug in 1325 into the y-variable and solve from there.
Subtract 35 on each side to get
Then just divide by 50 on each side, and your answer should be
And because we cannot go past budget, we will have to round down to 25. In context, the maximum amount of months Abbey can do is 25 months.