Question

PLEASE HELP: MEDAL/FAN

You need to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate.
FUNCTION: A (t) = 39,145(1 + (r/12))12t

Answer 1

so... what would I do?

Answer 2

@mathmale
@Glizzy_Nedd
@undeadknight26
@UnkleRhaukus
@mathhelpnow

Answer 3

SO.... What I think is that I plug in the time as 1 month?
and I change the rate of .03 to .25?

Answer 4

so... i would get
A = 39,145(1 + (0.25/12))12
A = 50, 134
Thats what i got.... but i dont think thats right...

Answer 5

is the answer choice

Answer 6

no... sorry

Answer 7

@undeadknight26 can you help?

Answer 8

plug a number in for t.

Answer 9

would it be 1? cuz t stands for time..... and 1 month?

Answer 10

yup...then 2 then 3 etc...

Answer 11

the formula is
A(t) = P(1 + r/n)^nt
and the problem says solve for r...

Answer 12

Well no idea in that case o.o

Answer 13

hmmm.... O.O idk

Answer 14

is there more info to this problem ?

Answer 15

Vehicle: Chevy Volt
Price: $39,145

Answer 16

The rest of the info is up above

Answer 17

A(t) = P(1 + r/n)^nt
P is principle
r is rate
t is time
n is number of times compounded

Answer 18

and it will take 45 months for it to be compounded completely...

Answer 19

i think that's about it....

Answer 20

does this help?

Answer 21

is the rate given 3%?

Answer 22

.03/12=.0025

Answer 23

The question is still unclear. It appears they want to change the compounding to 4 times a month (which is 48 times per year)
and then find the new rate?

we can change to compounding 48 times per month, by replace 12 with 48

but to solve for the rate, we need more info

Answer 24

that was the original rate..... but i thought you have to find the rate in this problem....
I got this:
A (t) = 39,145(1 + r )^(12(-45.5))
---
12
and solve for r?

Answer 25

yes, if you post it.

Answer 26

I can attach my problem...

Answer 27

Im stuck on problem 3...

Answer 28

to solve for the new r, you need to fill in A(t) on the left side (10,000 ?)
because you are compounding 4 times per month, change the 12 to 4*12=48
the exponent was in months. You should change that to weeks (4 wks to a month)
so the exponent is -45.5*4

Answer 29

ok

Answer 30

so -182

Answer 31

let me check

Answer 32

if the amount is compounded monthly,you can check the amount more than once but rate will remain same.

Answer 33

you mean
A (t) = 39,145(1 + (r /48))^-182

if you compound 4 times per month (= 48 times per year)

Answer 34

oh....

Answer 35

k so im confused on how to solve

Answer 36

The parts 2 and 3 of this question make no sense to me. But if we do what they ask, you get -45.5 months for the answer to part 2.

To do part 3, we need to fill in all the variables (except r), and then solve for r

Answer 37

To begin, if you compound 48 times per year, you change your formula to
A (t) = 39,145(1 + (r/48))^48t
where t is the time in years

Answer 38

Because the question is so goofy, all we can do is take a guess as to what they want.
One guess is to solve
\[ 10000 = 39145\left(1 + \frac{r}{48}\right)^{48\cdot \frac{-45.5}{12}}\\
10000 = 39145\left(1 + \frac{r}{48}\right)^{-182}
\]