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Your bank give you 6% annual interest compounded quarterly on all savings account balances. Which of the following is the multiplier used when modeling this situation A. 1.015 B…

Your bank give you 6% annual interest compounded quarterly on all savings account balances. Which of the following is the multiplier used when modeling this situation A. 1.015 B…
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Your bank give you 6% annual interest compounded quarterly on all savings account balances. Which of the following is the multiplier used when modeling this situation

A. 1.015
B. 1.02
C. 1.04
D. 1.06
E. 0.94

Your bank give you 6% annual interest compounded quarterly on all savings account-example-1
asked
User Dasser Basyouni
by
8.3k points

1 Answer

1 vote
It’s probably A 1.015 or 1.02
answered
User Medanko
by
8.2k points
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