The value of X where X = (1 + APR/M)^M - 1. assume APR = 8.00% And M = 4.00 is 1.061208
How to determine the value of x?
The formula is given as:
X = (1 + APR/M)^M - 1
Where
APR = 8.00%
M = 4.00
Substitute the above values in the formula X = (1 + APR/M)^M - 1
So, we have
X = (1 + 8%/4)^4- 1
Evaluate the difference and the quotient
X = (1 + 0.02)^3
Evaluate the sum
X = (1.02)^3
Evaluate the exponent
X = 1.061208
Hence, the value of X where X = (1 + APR/M)^M - 1. assume APR = 8.00% And M = 4.00 is 1.061208
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