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If the annual rate is 2.5% and there are 12 periods per year, what is the rate per period? a. 0.208%, b. 0.28%, c. 0.38%, d. 0.5% The answer: b. 0.28% is wrong

If the annual rate is 2.5% and there are 12 periods per year, what is the rate per period? a. 0.208%, b. 0.28%, c. 0.38%, d. 0.5% The answer: b. 0.28% is wrong
asked 18.2k views
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If the annual rate is 2.5% and there are 12 periods per year, what is the rate per period? a. 0.208%, b. 0.28%, c. 0.38%, d. 0.5%

The answer: b. 0.28% is wrong

asked
User Nico Gawenda
by
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1 Answer

5 votes
A. Because 2.5/ 12 = 0.208
answered
User Vladislav Krutskikh
by
8.4k points
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