SOLUTION: In a loan of 8% compounded quarterly, what is the periodic interest?

Algebra ->  Finance -> SOLUTION: In a loan of 8% compounded quarterly, what is the periodic interest?      Log On


   

Question 201637: In a loan of 8% compounded quarterly, what is the periodic interest?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
In a loan of 8% compounded quarterly, what is the periodic interest?
If you mean 8% per year, then it's 2% per quarter.