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Molodets [167]
2 years ago
5

A businessperson is charged a $4.96 monthly finance charge on a bill of $283.15.

Mathematics
1 answer:
gladu [14]2 years ago
3 0

Answer:

  1.75%

Step-by-step explanation:

The monthly interest rate is the interest amount divided by the base on which it is computed, expressed as a percentage.

  $4.96/$283.15 × 100% ≈ 1.75172% ≈ 1.75%

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The steps goes as follows:

= -(n-1)/(n^2-1) (factored a negative out)
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At this point, the (n-1) terms cancel, as you should know: a real number, besides 0, over itself is 1.

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Note: You could also see it as 1/-(n+1) or 1/(-n-1)
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