A law firm is going to designate associates and partners to a big new case. The daily rate charged to the client for each associate is $500 and the daily rate for each partner is $1000. The law firm assigned a total of 8 lawyers to the case and was able to charge the client $6500 per day for these lawyers' services. Determine the number of associates assigned to the case and the number of partners assigned to the case.

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.

-362

step-by-step explanation:

(12)(4)+2(12)-34(12)+2(12)-3

  \/         \/         \/         \/

  48 +   24 -   408 + 24 - 3

      \   /               \   /

          72     -     432 - 3 = -363