Question

the number of conversions periods for 2 whole 1/2 years, when- interest is compounded quaterly is ________.

a) 10
b) 2.5
c) 5
d) 4​

Answer 1

Answer:

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Step-by-step explanation:

You multiply the balance of the loan by the interest rate and time period of the loan to determine the annual interest charges. These interest charges can then be divided by 12 months to determine monthly interest expense or by four to assign an interest expense quarterly.

2.5 is your correct answer