Question

Use the example above and determine the fraction of total interest owed. After the fourth month of a 12 month loan, the numerator is: {(n + ) + (nt ) + (n + ) + (n + and the denominator is: {(n) + (n + 1) + ... + (n + )} Therefore, the fraction is numerator/denominator (to the nearest tenth) = %.​

Answer 1

Explanation:

The picture does not show the example which will help in determining whether it is simple or compound interest calculation.

Based on what is shown, the answer is:

the numerator is: {(n + 11) + (n + 10) + (n + 9 ) + (n + 8) = 4n + 38;

and the denominator is: {(n) + (n + 1) + ... + (n + 11) = 12n + 66.

Therefore, the fraction is numerator/denominator:

= (4n + 38) / (12n + 66)

In this case n=1, the fraction = 42/78 = 0.53846

= 53.85%