anonymous
  • anonymous
What is the rate per interest period of 12% compounded quarterly?
Mathematics
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SOLVED
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chestercat
  • chestercat
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welshfella
  • welshfella
how many quarters are there in 1 year?
anonymous
  • anonymous
Four.
anonymous
  • anonymous
@Nalemi P is the principal (the initial amount you borrow or deposit) r is the annual rate of interest (percentage) n is the number of years the amount is deposited or borrowed for. A is the amount of money accumulated after n years, including interest. When the interest is compounded once a year: A = P(1 + r)n

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anonymous
  • anonymous
rate per interest period shall be 12/4 = 3% per quarter
anonymous
  • anonymous
rate per interest period shall be 12/4 = 3% per quarter

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