jonelg719 jonelg719

21-03-2017
Mathematics

contestada

The annual interest rate of Belinda's savings account is 6.8%, and simple interest is calculated quarterly. What is the periodic interest rate of Belinda's account? A. 1.07% B. 0.85% C. 1.7% D. 3.4%

Respuesta :

sqdancefan sqdancefan

11-07-2018

There are 4 quarters in a year, so each quarter, Belinda earns
6.8%/4 = 1.7%
interest on her account.

The appropriate choice is
C. 1.7%

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