Respuesta :
The value that would be put for r is; 0.063
Interest rates
We are given the monthly payment formula for present value as;
M = (Pr(1 + r)ⁿ)/(1 - r) - 1
Where;
P is Present Value
r is interest rate
n is number of times compounded
Now, we are told the interest rate is given as 6.3% and so we can write that; r = 6.3/100 = 0.063
Read more about interest rates at; https://brainly.com/question/1115815
Answer:
The correct answer is 0.00525
Step-by-step explanation:
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