John has a roll containing 24 2/3 feet of wrapping paper he wants to divide it into 11 pieces first though he must cut off five
1 answer:
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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 = %