Asked by John
interest formula A=2pf/b(q+1)
find A to nearest percent
p=12, f=$1209, b=$4900, Q=36
A=2*12*$1209/$4900(36+1)
A=$29,016/$4900(37)
A=$29,016/$181,300
A=0.160044126
so......is my answer 16%??????????
find A to nearest percent
p=12, f=$1209, b=$4900, Q=36
A=2*12*$1209/$4900(36+1)
A=$29,016/$4900(37)
A=$29,016/$181,300
A=0.160044126
so......is my answer 16%??????????
Answers
Answered by
Reiny
yes
you should have written the formula as
A=2pf/(b(q+1)) to establish the correct order of operation.
I recognize the formula as an outdated method of approximating the interest on monthly payments of a debt, used before we had calculators that gave up easy powers and root calculations.
you should have written the formula as
A=2pf/(b(q+1)) to establish the correct order of operation.
I recognize the formula as an outdated method of approximating the interest on monthly payments of a debt, used before we had calculators that gave up easy powers and root calculations.
Answered by
John
Thanks. I know how to do it on the calculator, but I must use this formula and show my work. Calculators are great!
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