Compute the periodic rate and interest in the first period for a $2,000 loan with 8.5% APR for the following periods. A. Monthly B. Daily use a non leap year. C. Quarterly 4 times a year. D. Biweekly every 2 weeks     What is the periodic rate ---------------?  The interest in the first period is---------- The periodic rate is ----------.

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 16E
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Compute the periodic rate and interest in the first period for a $2,000 loan with 8.5% APR for the following periods. A. Monthly B. Daily use a non leap year. C. Quarterly 4 times a year. D. Biweekly every 2 weeks     What is the periodic rate ---------------?  The interest in the first period is----------

The periodic rate is ----------. 

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