Answer: you would have to do alot of stuuff
Step-by-step explanation:
The correct option will be: d. 0.4%
For finding the periodic interest rate , we need to divide the annual interest rate by the number of times interest calculated in a year.
Here, the simple interest is calculated monthly, that means the number of times interest calculated in a year will be 12.
Annual interest rate is 4.8%
So, the periodic interest rate =
%
The most exact answer would be 0.19951% but the approximate answer would be 0.2%.