Pete is building a fence around a rectangular field. In his design, the length of the field is 62 feet and the width is 25 feet. The fence includes a gate that measures 9 feet in length. After Pete builds the fence, he determines that he used 168 feet of fence material, not including the gate. What is the percent error of Pete’s design measurements compared to the actual fence material used? Round your answer to the nearest hundredth of a percent.

A

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.