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+rn)1c]cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+rn.

Question

anonymous · Answer

@Hero

hero · Answer

What are the given values besides c = 4?

anonymous · Answer

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

Current interest rate: 3% 
t=-0.2242

anonymous · Answer

@Hero

hero · Answer

What happened to the 10,000?

anonymous · Answer

I didn't say in the question i think because i found t

hero · Answer

Basically, this question is the same as the previous question, except we have an extra variable, c. Correct?

anonymous · Answer

Yes

hero · Answer

So we have the formula $A(t) = P\left(1 + \dfrac{r}{n}\right)^{nt}$ but we have to add the c variable to it. I'm not exactly sure where the c variable goes. I assume this:

$A(t) = P\left(1 + \dfrac{r}{cn}\right)^{cnt}$

anonymous · Answer

They gave me a new variable $$A(t)=P[(1+r/n)^1/c]^cnt$$

hero · Answer

Do you think you might be able to use the draw feature to write out the formula? 

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