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8 July, 11:20

The annual interest rate of Daphne's savings account is 2.4% and simple interest is calculated semiannually. What is the periodic interest rate of Daphne's account?

A. 0.4%

B. 0.2%

C. 0.6%

D. 1.2%

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Answers (2)
  1. 8 July, 12:42
    0
    The interest rate is calculated semiannually which means twice a year so you do 2.4/2 which equals 1.2 so the answer is D
  2. 8 July, 14:15
    0
    C but don't hold me against ig
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