Determine the fraction of total interest owed. After the fourth month of a 12-month loan: the numerator is: {(n + ) + (n + ) + (n + ) + (n + )} = , and the denominator is: {(n) + (n + 1) + ... + (n + )} = . Therefore, the fraction is numerator/denominator (to the nearest tenth) = %.
Determine the fraction of total interest owed. After the fourth month of a 12-month loan: the numerator is: {(n + ) + (n + ) + (n + ) + (n + )} = , and the denominator is: {(n) + (n + 1) + ... + (n + )} = . Therefore, the fraction is numerator/denominator (to the nearest tenth) = %.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 23E
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Determine the fraction of total interest owed.
After the fourth month of a 12-month loan:
the numerator is: {(n + ) + (n + ) + (n + ) + (n + )} = , and
the denominator is: {(n) + (n + 1) + ... + (n + )} = .
Therefore, the fraction is numerator/denominator (to the nearest tenth) = %.
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