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Assume that 4.5% is an annual interest rate. Find the interest rate for an account that is compounded
quarterly and monthly.

Assume that 45 is an annual interest rate Find the interest rate for an account that is compounded quarterly and monthly class=

Respuesta :

Answer:

B.

Step-by-step explanation:

Quarterly interest rate is 4.5 / 4 = 1.125%.

Monthly rate is 4.5 / 12 = 0.375%.

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Answer:

B 1.25%-0.375%

Step-by-step explanation:

Compounded quarterly means there are 4 interest periods in 1 year, so divide the annual interest rate by 4.

4.5% ÷ 4 = 1.125%

Compounded monthly means there are 12 interest periods in 1 year, so divide the annual interest rate by 12.

4.5% ÷ 12 = 0.375%

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