If you have 3⁄8 of one pie, what does the denominator tell you?

the pie was cut into three pieces.

you have three of eight pieces of pie.

you have three of eight pies.

the pie was cut into eight pieces.

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.