Question

PLEASE HELP
Interest rates have dropped steadily over the last six months. Each month they have decreased by 1/4 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.​

Answer 1

A. Let the Initial Interest rate = x
It is given that each month Interest rate decreases by 1/4 point. Let total change of rate over the last six month= y
y = 6 x -x/4
y = -1.5x

B. Total Change
= (-1.5x-x)/(6-1)
= -2.5x/5
= -0.5x
= -5x/10
= -x/2