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grandymaker [24]
2 years ago
9

The annual interest rate of Marta's savings account is 7.2% in a simple interest is calculated quarterly. What is the periodic i

nterest rate of Marta's Account? HELPPPPPPPPP APEX
Mathematics
1 answer:
kkurt [141]2 years ago
7 0
1. You have the following information:
 
 -The annual interest rate <span>is 7.2%.
 - The </span><span>simple interest is calculated quarterly.
 
 2. Then, to solve this exercise and calculate the </span><span>periodic interest rate of Marta's Account, you only have to divide the annual interest rate (7.2%) by 1/4 year. So, you have:
</span> 
 =(7.2%)(1/4)
 =(7.2%)/4
 =1.8%
 
 <span>What is the periodic interest rate of Marta's Account?
 
 The answer is: </span>1.8%
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