Question

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

Answer:

A. Total change of rates over the last six months = 6 times monthly change

B. Total change of rates over the last six months = 1$\frac{1}{2}$ points

Step-by-step explanation:

Interest rates have dropped steadily over the last six months.

Each month they have decreased by $\frac{1}{4}$ points.

A. Total change of rates over the last six months

= 6 times monthly change

B. Total change of rates over the last six months

= 6x$\frac{1}{4}$ points = 3x$\frac{1}{2}$ points = 1$\frac{1}{2}$ points