You are going to purchase a new car, but being a responsible consumer means doing a little bit of research first.

First, you find the vehicle you are purchasing and its price.
Vehicle: Chevy Volt
Price: $39,145

Ive got the first two questions i just need help with this one:Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate. Remember to use the formula A( t)=p[(1+r/n)^1/c]^cnt
where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1 + r/n

Question

You are going to purchase a new car, but being a responsible consumer means doing a little bit of research first.

First, you find the vehicle you are purchasing and its price.
Vehicle: Chevy Volt
Price: $39,145 


Ive got the first two questions i just need help with this one:Lastly, you decide to keep track of your loan four times a month instead of monthly. Solve for the adjusted interest rate. Remember to use the formula A( t)=p[(1+r/n)^1/c]^cnt
 where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1 + r/n

jdoe0001 · Answer

I think you're lacking info... may want to post a screenshot possibly, so we can read the formula

anonymous · Answer

Ahh sorry the formula for the overall equation was A(t)=39,145(1+0.03/12)^12t

jdoe0001 · Answer

well. I can see that's the compound interest formula

but the adjusted interest one is a different one
the principal is 39,145
the rate I can tell is 3%

anonymous · Answer

Okay. I have no clue what that means. Sorry. Im pretty stupid.

jdoe0001 · Answer

a quick screenshot may clarify things

anonymous · Answer

Never mind. Ill just read through the chapter 5 more times. Thanks though!