Marcela took out a $600 Discounted loan with the 4% annual interest rate over a period of 8 months. What is the effective annual interest rate for the loan? Round to two decimal places.

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)

yess

step-by-step explanation:

idk whyy this is happening, i cant even read my notification bc i keep getting errors

~coco