The annual interest rate on a loan is 10% which can be represented using the expression 1.10t. Write an expression that represents the quarterly interest rate.
Given that the interest rate is 10% which can be represented by 1.10t, the quarterly interested rate will be represented as follows: annual rate=10% quarterly rate=10/4=2.5%=0.025 given time t, this will be represented as : (1+0.025)t =1.025t
