when using compound interest rate tables, the annual rate divided by the number of periods per year gives you the blank?
1 answer:
Answer:
Interest rate per period
Step-by-step explanation:
To calculate the interest, first convert the interest rate percentage into a decimal then divide that number of period per year.
For example, 10% rate of interest calculator by Quarter.
We get 0.1 divide by 4 because there are 4 quarters in a year.
Hope this will help you. :)
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