A P E X!!!! URGENT :The annual interest rate of Belinda's savings account is 8.6% and simple interest is calculated quarterly. W

Question

3 years ago

7

hat is the periodic interest rate of Belinda's account?

2 answers:

yan [13] · Answer 1 · 2022-02-06T04:46:35+03:00

Answer:

Given,

The annual rate = 8.6%,

Thus, the periodic rate = \frac{\text{Annual rate}}{\text{Number of periods}}

Number of periods

Annual rate

Here, the period is semiannually,

∵ number of semiannual = 2,

Thus, the number of periods = 2,

Hence, the periodic rate = \frac{8.6\%}{2}

2

8.6%

= 4.3%

Alex777 [14] · Answer 2 · 2022-02-06T06:01:05+03:00

3 0

Answer:

The answer is 2.15%

Step-by-step explanatio