Janet took out a loan at 50000 from Bank of America at 8% on March 19th 2015 which is due on July 8th 2016 using exact interest amount of Janus interest cost is

c. 4 1/4 pounds

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.

step-by-step explanation:

mean or average is 40.6