Question
The Approximate annual interest rate r of a monthly installment loan is given by the formula:
Where n is the total number of payments , m is the monthly payment and p is the amount financed.
Find the approximate annual interest rate for a five year auto loan of $40,000 that has monthly payments of $750.
Hint:
When we calculate annual interest rate we have to take the time period in months. Always remember to write the interest rate in percentage.
We are asked to calculate to annual interest rate for the given situations.
The correct answer is: Interest rate in percentage is: 0.0457 × 100=4.57%
Step 1:
Here, the number of payments are for five years, that is, n= 5 × 12 = 60.
The value of p=$40,000 and the monthly payment is, m=$750.
Substituting the values in the equation, 
we have:
Thus, the interest value is, .
Interest rate in percentage is: 0.0457 × 100=4.57%
The annual rate refers to the rate that is applied over a period of one year. Interest rates can be applied over different periods, such as monthly, quarterly or bi-annually. However, in most cases, interest rates are annualized.
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The Approximate annual interest rate r of a monthly installment loan is given by the formula:
Where n is the total number of payments , m is the monthly payment and p is the amount financed.
a. Find the approximate annual interest rate for a four year signature loan $20,000 that has monthly payments of $500.
The Approximate annual interest rate r of a monthly installment loan is given by the formula:
Where n is the total number of payments , m is the monthly payment and p is the amount financed.
a. Find the approximate annual interest rate for a four year signature loan $20,000 that has monthly payments of $500.
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.Find b, n, and p.
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For What value of X is 
undefined ?
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Give an example of two irrational numbers whose product is rational .
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Find the Quotient and the domain .
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A Basketball coach is considering three players for most valuable player . The table shows the proportion of shots each player made of the shots they attempted.
a) For a technical foul , the team can pick any player they want to shoot the free throw. Which player should the team pick ?
b) Which player is most successful with their field goal shots? Explain.
c) Rank the players by the percentage of the 3- point shots each made .
d) If all the players attempted the same number of shots , which player would you choose as the most valuable player? Justify your answer.
In this question, it can be explained further:
A. Kimberly: 0.857 > 4/5 > 71%
Here, Kimberly's free throws have the highest proportion.
B. Martin: 49.5% > 9/20 > 0.448
Here, Martin's proportion of field goals is the highest.
C. Corey: 0.338 > 1/3 > 32%
Kimberly > Corey > Martin
From the above explanation, we can conclude Kimberly is first, Corey is second, and Martin is third.
I'd go with Kimberly because he has a higher percentage on all shots than the other two players.
A Basketball coach is considering three players for most valuable player . The table shows the proportion of shots each player made of the shots they attempted.
a) For a technical foul , the team can pick any player they want to shoot the free throw. Which player should the team pick ?
b) Which player is most successful with their field goal shots? Explain.
c) Rank the players by the percentage of the 3- point shots each made .
d) If all the players attempted the same number of shots , which player would you choose as the most valuable player? Justify your answer.
In this question, it can be explained further:
A. Kimberly: 0.857 > 4/5 > 71%
Here, Kimberly's free throws have the highest proportion.
B. Martin: 49.5% > 9/20 > 0.448
Here, Martin's proportion of field goals is the highest.
C. Corey: 0.338 > 1/3 > 32%
Kimberly > Corey > Martin
From the above explanation, we can conclude Kimberly is first, Corey is second, and Martin is third.
I'd go with Kimberly because he has a higher percentage on all shots than the other two players.
