menu
Qammunity.org
Login
Register
My account
Edit my Profile
Private messages
My favorites
The annual interest rate of Paul's savings account is 7.2%,and simple interest is calculated monthly. What is the periodic interest rate of Paul's account? A. 0.9% B. …
Ask a Question
Questions
Unanswered
Tags
Ask a Question
The annual interest rate of Paul's savings account is 7.2%,and simple interest is calculated monthly. What is the periodic interest rate of Paul's account? A. 0.9% B. …
asked
Jul 20, 2019
138k
views
0
votes
The annual interest rate of Paul's savings account is 7.2%,and simple interest is calculated monthly. What is the periodic interest rate of Paul's account?
A. 0.9%
B. 0.6%
C. 0.4%
D. 1.8%
Mathematics
high-school
Pulkit Jha
asked
by
Pulkit Jha
7.5k
points
answer
comment
share this
share
0 Comments
Please
log in
or
register
to add a comment.
Please
log in
or
register
to answer this question.
2
Answers
7
votes
hey bud the answer is 0.6
Anton Smith
answered
Jul 21, 2019
by
Anton Smith
8.0k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
5
votes
B) 0.6%
The periodic interest rate is found by dividing the annual interest rate by the number of times per year it is compounded.
7.5/12 = 0.625, rounded to 0.6.
Milos Matic
answered
Jul 27, 2019
by
Milos Matic
7.5k
points
ask related question
comment
share this
0 Comments
Please
log in
or
register
to add a comment.
← Prev Question
Next Question →
No related questions found
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.
9.4m
questions
12.2m
answers
Categories
All categories
Mathematics
(3.7m)
History
(955k)
English
(903k)
Biology
(716k)
Chemistry
(440k)
Physics
(405k)
Social Studies
(564k)
Advanced Placement
(27.5k)
SAT
(19.1k)
Geography
(146k)
Health
(283k)
Arts
(107k)
Business
(468k)
Computers & Tech
(195k)
French
(33.9k)
German
(4.9k)
Spanish
(174k)
Medicine
(125k)
Law
(53.4k)
Engineering
(74.2k)
Other Questions
How do you can you solve this problem 37 + y = 87; y =
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Twitter
WhatsApp
Facebook
Reddit
LinkedIn
Email
Link Copied!
Copy
Search Qammunity.org