Mathematics: Find i. choose the correct answer. amount financed (m) = $1,750 number of payments per year (y) = 12 number of payments (n) = 36 total interest (c) = $300.00 i = %.

3Step-by-step explanation:i hope...

Find i. choose the correct answer. amount financed

haidenmoore92

05.01.2022

11.12 % (approx)

Step-by-step explanation:

Since, We know that,

$I = \frac{2yc}{m(n+1)}$

Where y = payment per year

c = total interest paid

m = amount financed

n = total number of payment

I = true interest rate ( in decimals )

Here, m= $1,750, y = 12, n = 36 and c = $300

Thus, $I = \frac{2\times 12\times 300}{1750(36+1)}$

$I = \frac{7200}{1750\times 37}$

$I = \frac{7200}{64750}$

I =0.11119691119

⇒ $I =11.119691119\% \approx 11.12\%$

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val926

23.12.2020

Step-by-step explanation:

i hope

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