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In the monthly payment formula , what value would you put for r if the interest rate is 5.7%?
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In the monthly payment formula , what value would you put for r if the interest rate is 5.7%?

User Dat Tran
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2 Answers

6 votes

Answer:0000.54

Explanation:

User Ergunkocak
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3 votes
In the monthly payment formula r is the percentage rate as a decimal.

To turn a percentage into a decimal, move the decimal point 2 places to the left.
5.7% becomes 0.057

User James Trimble
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