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)^1c]^cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+r/n.
Need help.

Question

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)^1c]^cnt where c = 4. When solving for the adjusted interest rate, be sure to set it equal to 1+r/n.
Need help.

anonymous · Answer

@wio

anonymous · Answer

any idea wio?

anonymous · Answer

@iambatman

anonymous · Answer

Hmmm to be honest, I'm a bit confused.  I've never seen that formula before

anonymous · Answer

okay, thanks any ways:)

anonymous · Answer

@DanJS can you help me out?

anonymous · Answer

10,000=39,145(1+0.03/12)12t

danjs · Answer

what are the values from the previous part, it says "lastly"

danjs · Answer

Looks like the only difference in this part, than the previous parts, is that you want to know how much money you have every week (4 times a month) rather than once a month. So they want to know the interest rate for that time period instead , i am guessing.

danjs · Answer

isn't, n the compounding period? i cant remember

anonymous · Answer

sorry just came back from doing something, but here is my previous work.

anonymous · Answer

Using the function A(t)=P(1+r/n)^nt, create the function that represents your new car loan that is compounded monthly. The principle will be the price of the vehicle you selected, not how much you are putting down.
Being a smart financial planner, you want to figure out how many months it will be until our principal is paid down to $10,000.00. Solve for t and show all of your work. Note that t will be negative because the number of months will decrease the principal.

anonymous · Answer

@DanJS

anonymous · Answer

well these are the previous questions.