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| rev | Admin | (Created page with "'''Solution: A''' Define <math>i^{\prime}</math> as the quarterly effective interest rate for the loan Solve for <math>i^{\prime}</math> <math display="block"> \begin{aligned} & 291.23 a_{\overline{20} \mid i^{\prime}}=5000 \\ & i^{\prime}=1.5 \% \end{aligned} </math> Then, solve for <math>j</math> using the formula <math display="block"> \begin{aligned} & \left(1+\frac{j}{12}\right)^{12}=(1+0.015)^4 \\ & j=0.0597 \end{aligned} </math> {{soacopyright | 2023 }}") | Nov 19'23 at 15:36 | +472 |