4 years ago

Assume that 4.5% is an annual interest rate. Find the interest rate for an account that is compounded

1 answer:

skad [1K]4 years ago

8 0

Answer:

Step-by-step explanation:

Quarterly interest rate is 4.5 / 4 = 1.125%.

Monthly rate is 4.5 / 12 = 0.375%.

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