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The annual interest rate of Jacques' savings account is 3.6%, and simple interest is calculated monthly. What is the periodic interest rate of Jacques' account? A. 0.6…

The annual interest rate of Jacques' savings account is 3.6%, and simple interest is calculated monthly. What is the periodic interest rate of Jacques' account? A. 0.6…
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The annual interest rate of Jacques' savings account is 3.6%, and simple interest is calculated monthly. What is the periodic interest rate of Jacques' account?

A. 0.6%
B. 0.9%
C. 0.3% <----- Apex Answer
D. 1.8%

asked
User Arved
by
8.4k points

2 Answers

2 votes

Answer:0.03 is the answer


Step-by-step explanation:(Apex)


answered
User Eventhorizon
by
8.0k points
1 vote
divide by 12 equals 0.3
answered
User Christian Steinmann
by
7.6k points
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