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7 January, 06:16

The annual interest rate of Claudia's savings account is 8.6%, and simple interest is calculated semiannually. What is the periodic interest rate of Claudia's account?

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  1. 7 January, 09:12
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    The interest is calculated semiannually, which means twice a year.

    The periodic interst rate = 8.6%/2 = 4.3%
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