Wen Jing received an excellent interest rate for her car loan of $11,000. Calculate the nominal interest rate and periodic
interest rate of her loan if it accumulated to $11,170 in five months and interest was compounded quarterly.
37%
b. 0.92%
3.70%
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Wen Jing received an excellent interest rate for her car loan of $11,000. Calculate the nominal interest rate and periodic
interest rate of her loan if it accumulated to $11,170 in five months and interest was compounded quarterly.
37%
b. 0.92%
3.70%
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