SOLUTION: Given the annual interest rate and the compounding​ period, find​ i, the interest rate per compounding period, find r, the annual rate. 1.475%per quarter R=%

Algebra ->  Finance -> SOLUTION: Given the annual interest rate and the compounding​ period, find​ i, the interest rate per compounding period, find r, the annual rate. 1.475%per quarter R=%       Log On


   

Question 1182413: Given the annual interest rate and the compounding​ period, find​ i, the interest rate per compounding period, find r, the annual rate.
1.475%per quarter
R=%

Answer by ikleyn(52921) About Me  (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.