Multiply. What is 1/3 x 12?
2 answers:
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Answer: Option 1
<u>Step-by-step explanation:</u>
Option 1 has a greater area than option 2.
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 = %