Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
GodBlessYou
Group Title
Find the quarterly interest rate if the annual rate is 8%.
 one year ago
 one year ago
GodBlessYou Group Title
Find the quarterly interest rate if the annual rate is 8%.
 one year ago
 one year ago

This Question is Closed

terenzreignz Group TitleBest ResponseYou've already chosen the best response.0
Let's have q for the quarterly rate of interest and r for the annual rate, shall we? :) Then we have this relation... \[\Large (1+q)^4 = 1+r\]
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
I'm not sure what to do next..
 one year ago

terenzreignz Group TitleBest ResponseYou've already chosen the best response.0
What is your value for r?
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
@terenzreignz
 one year ago

terenzreignz Group TitleBest ResponseYou've already chosen the best response.0
yes, but that's equal to 0.08. Now just solve for q :)
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
dw:1374770664249:dw
 one year ago

terenzreignz Group TitleBest ResponseYou've already chosen the best response.0
Yup :)
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
what do I do about the q? I'm not sure what to so next
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
What are the steps?
 one year ago

terenzreignz Group TitleBest ResponseYou've already chosen the best response.0
Well, for starters, get the fourth root of both sides?\[\Large 1+q = \sqrt[4]{1.08}\] And work it out from here
 one year ago

GodBlessYou Group TitleBest ResponseYou've already chosen the best response.0
I'm still not sure what to do, would you explain step by step?
 one year ago
See more questions >>>
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.