Question

algebra 2 help please

Answer 1

oh! the interest rate is %3

Answer 2

You've been getting no responses because the question itself needs interpretation (explanation) to be clear. Not your fault.

My assumption is that interest is paid 12 times per year (monthly), whereas this busy beaver (you) wants to figure out the effective interest rate as tho' interest were paid 4x per month. For the purpose of this problem, n=12 (12 actual interest payments per year), c=4 (4 imagined interest payments per month),

We do not know r (unless more info was part of this problem than you are sharing here). So, it looks as tho' you'll need to express the effective interest rate in terms of r, r being unknown. Neither do we know the principal, P; however, that will not affect your calculation of the effective interest rate at all.

see what you can put together, based upon this information.

Answer 3

i'm sorry I forgot to add the interest rate is 3% and this was the function i used for number 2 10,000 = 39,145(1 + 0.03/n )nt

Answer 4

OK: so now you know one more thing than we did before. n=12, c=4, r=0.03.

again I ask you to show what you can put together with this info.

Answer 5

they want us to use the equation given so i'm assuming I set it up like this

A(t)=P[(1+0.03/12)^1/4]^412t?

Answer 6

Instead of 412 you probably mean 4*12. Why?

Answer 7

Does 4*12=48 or 412?

Answer 8

48. I am sorry i did not mean the question mark. I think I can figure it out mostly from here, it's sort of the same as the second question. Thank you

Answer 9

You're welcome! Good luck!