contestada

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In the monthly payment formula M =
for rif the interest rate is 6.3%?
Pr(1+r)"
(1+r)n-1'
what value would you put
A. 0.0063
B. 0.00525
C. 0.525
D. 6.3

Respuesta :

The value that would be put for r is; 0.063

Interest rates

We are given the monthly payment formula for present value as;

M = (Pr(1 + r)ⁿ)/(1 - r) - 1

Where;

P is Present Value

r is interest rate

n is number of times compounded

Now, we are told the interest rate is given as 6.3% and so we can write that; r = 6.3/100 = 0.063

Read more about interest rates at; https://brainly.com/question/1115815

Answer:

The correct answer is 0.00525

Step-by-step explanation:

i just took the quiz and got this question correct, hope this helps!

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