If an interest rate is 18% per year, what is the equivalent interest rate per quarter?
A)3.8%
B)4.5%
C)4.8%
D)6.2%
E)8.6%

Name: If an interest rate is 18% per year, what is the equivalent interest rate per quarter? A)3.8% B)4.5% C)4.8% D)6.2% E)8.6%
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Question

Quizplus · Accepted Answer

To find the equivalent quarterly interest rate from an annual rate of 18%, we divide the annual rate by 4 (since there are 4 quarters in a year): 18% / 4 = 4.5%.

If an Interest Rate Is 18% Per Year, What Is