Question

The annual interest rate of Codie's savings account is 4.8%, and simple interest is calculated quarterly. What is the periodic interest rate of Codie's account?

Answer 1

Answer:

1.2%

Explanation: Annual rate/period = 4.8%/4 = 1.2%

Answer 2

Answer:

1.25

Explanation:

apex 4.1.3 quiz