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.
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