Final answer:
The weekly (periodic) interest rate for an annual interest rate of 4% compounded weekly is approximately 0.077%.
Step-by-step explanation:
To find the weekly (periodic) interest rate, we need to divide the annual interest rate by the number of compounding periods in a year. In this case, the interest is compounded weekly, so there are 52 compounding periods in a year.
To calculate the weekly (periodic) interest rate, we can use the formula:
Periodic Interest Rate = ((1 + Annual Interest Rate)^(1/number of compounding periods)) - 1
Plugging in the values, the weekly (periodic) interest rate would be:
((1 + 0.04)^(1/52)) - 1 = 0.000769230769
Therefore, the weekly (periodic) interest rate, rounded to three decimal places, is approximately 0.077%.