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August 1, 2014

August 1, 2014

Posted by **Mary** on Tuesday, December 28, 2010 at 6:43pm.

- Math -
**Ms. Sue**, Tuesday, December 28, 2010 at 6:50pm1693.77 / 5590 = 0.303

0.303 / 3 = 0.101 = 10% annual percentage rate

- Math -
**Reiny**, Tuesday, December 28, 2010 at 8:51pmWe would have to solve the equation

7283.77 = payment( (1+i)^36 - 1)/i , where i is the monthly rate

There are two unknowns in that ONE equation, namely i and payment, so it cannot be solved.

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