Question

Solve this equation for the changed rate

Answer 1

10,000 = 39145 (1+ .3/12) ^12(-45.5413)
you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate.

Answer 2

" four times a month"
so it will be: \(10,000 = 39145 (1+ \frac{.3}{12 \times 4 }) ^{12(-45.5413) \times 4}\)

Answer 3

and then it says to solve for the adjusted interest rate, so do I put r in for .3?

Answer 4

yeah i think so