Imagine that you are the owner of a hospital which has 26 floors. On each floor, there are 1275 beds. The hospital employs 196 doctors, 1,772 nurses and 830 supporting staff. There are 8 wards on each floor and each ward has the same number of beds and a few extra beds on each floor for emergency use.

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answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.