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6 September, 07:40

The annual interest rate of Marcella's savings account is 7.2%, and simple interest is calculated semiannually. What is the periodic interest rate of Marcella's account?

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  1. 6 September, 07:50
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    The annual interest rate of Marcella's savings account is 7.2%, and simple interest is calculated semiannually. The periodic interest rate of Marcella's account will be C. 3.6%.

    = 7.2% / 2

    = 3.6%

    Here are the following choices:

    A. 0.8%

    B. 1.2%

    C. 3.6%

    D. 0.4%
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