What quarterly interest rate equals an annual interest rate of 2 %? Give your answer as a decimal rounded to 4 decimal places.

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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What quarterly interest rate equals an annual interest rate
of 2 %? Give your answer as a decimal rounded to 4 decimal
places.
Transcribed Image Text:What quarterly interest rate equals an annual interest rate of 2 %? Give your answer as a decimal rounded to 4 decimal places.
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