SOLUTION: Given the annual interest rate and the compounding period, find i, the interest rate per compounding period.
I=
4.4%compounded quarterly
Algebra.Com
Question 1182406: Given the annual interest rate and the compounding period, find i, the interest rate per compounding period.
I=
4.4%compounded quarterly
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
To find interest rate per compounding period, take the annual rate as the decimal
and divide it by the number of compounding periods in a year.
See the lesson
- Compounded interest percentage problems
in this site and learn the subject from there.
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