Find the quarterly interest rate if the annual rate is 8%.

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Find the quarterly interest rate if the annual rate is 8%.

Mathematics
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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Let's have q for the quarterly rate of interest and r for the annual rate, shall we? :) Then we have this relation... \[\Large (1+q)^4 = 1+r\]
I'm not sure what to do next..
What is your value for r?

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8%?
yes, but that's equal to 0.08. Now just solve for q :)
|dw:1374770664249:dw|
Yup :)
what do I do about the q? I'm not sure what to so next
What are the steps?
Well, for starters, get the fourth root of both sides?\[\Large 1+q = \sqrt[4]{1.08}\] And work it out from here
I'm still not sure what to do, would you explain step by step?

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