Interest rates have dropped steadily over the last six months. each month they have decreased by 1/4 of a point. a. write an expression to represent the total change of rates over the last six months. b. find the total change. make sure to express your answer as a mixed number in lowest terms.

part a

let m represent the number of months, and ∆r the change in interest rates in points. the problem statement tells us

∆r = (-1/4)m . . . interest rates decrease 1/4 point each month

part b

the value of ∆r for m=6 is

∆r = (-1/4)·6 = -6/4 = -1 1/2 . . . the total change in points in 6 months

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