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Question 3 of 25 The annual interest rate of Chuck's savings account is 4.8%, and simple interest is calculated monthly. What is the periodic interest rate of Chuck's …

Question 3 of 25 The annual interest rate of Chuck's savings account is 4.8%, and simple interest is calculated monthly. What is the periodic interest rate of Chuck's …
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Question 3 of 25

The annual interest rate of Chuck's savings account is 4.8%, and simple
interest is calculated monthly. What is the periodic interest rate of Chuck's
account?
A. 0.8%
OB. 0.4%
C. 1.2%
o
D. 2.4%
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User Jeffre
by
8.9k points

1 Answer

10 votes

Answer:

A 0.4 %

Explanation:

I just took the test

User Sirtao
by
8.2k points
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