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Aneli
2 months 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:
babunello [11.8K]2 months ago
7 0
1. Here is the relevant information:
 
 -The annual interest rate is 7.2%.
 - The simple interest is computed quarterly.
 
 2. To find the periodic interest rate for Marta's Account, simply divide the annual rate (7.2%) by a quarter year. Thus, you calculate:
 
 =(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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