Ok, I already answered the first 2 questions, but am not sure how to solve the last question-Help??!!

Question

anonymous · Answer

It's #3 I need help with.

anonymous · Answer

@amistre64 Do you know what they mean with the last question here? I don't understand it.

amistre64 · Answer

the adjusted period  .... my first thought is that they are adjusting the compounding rate but thats alot to read through

amistre64 · Answer

12*4 times a year = 48 periods if im seeing it right

amistre64 · Answer

A =P(1+r/48)^(48t)

anonymous · Answer

Ok, So I re-solve it with 48 instead of 12?

amistre64 · Answer

thats my best guess yes.  but its early in the morning over here and reading alot of stuff is difficult with these old eyes

amistre64 · Answer

it may be asking for the value of (1+r/48)  but i just cant tell

solomonzelman · Answer

maybe by saying  keep track of the loan more  they mean to compound it more each year? but idk, not sure -:(

anonymous · Answer

I'll try it out, all of this stuff is new to me. lol 
I just wasn't sure with how to put the new numbers in; thanks again for your help:-)

amistre64 · Answer

my confusion is that the person getting the loan doesnt affect the loan ...

if i calculate a bank loan that is compounded monthly, by keeping track of 4 times a month doesnt affect my monthly payment one bit .... its just a wierd question to me :)

anonymous · Answer

Yea, I thought it was odd too:/ 
I'm trying to solve it now with the formula you gave, but 0.03 isn't dividing into 48 correctly inside of the parenthesis..Is there another number I should use, like 4?