Express the Following Ratio in Its Lowest Terms: 56:21

question 111

Short Answer

Express the following ratio in its lowest terms: 56:21

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Definitions:

Single Payment

A one-time transfer of money to settle a liability or make a purchase.

Payment Obligations

Financial liabilities or commitments that an entity is required to pay to another party.

Simple Interest Rate

The percentage of the principal amount that is paid as interest for a specific period.

Equal Payments

Regular payments of the same amount made over a specified period, often used in loans and annuities.