Mathematics, 30.07.2019 23:40 washingtonisaia
Ms. chambers applied for a home improvement loan that has an annual interest rate of 6%, compounded monthly. the following expression represents the total amount that she will spend to pay off the loan in t years.
120,000(1.06)^t
what is the exponential expression in the form (b)c that reveals the monthly interest rate on the loan?
a. (1.005)^12t
b. (1.06)^12t
c. (1.0t)^t/12
d. (1.005)^t/12
Answers: 2
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Ms. chambers applied for a home improvement loan that has an annual interest rate of 6%, compounded...
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