Find I (The Rate Per Period) and N (The Number

question 74

Multiple Choice

Find i (the rate per period) and n (the number of periods) for the loan at the given annual rate.
-Annual payments of $378.80 are made for 8 years to repay a loan at 6.4% compounded annually.

• A) i = 0.064; n = 8
• B) i = 0.00533; n = 12
• C) i = 0.064; n = 16
• D) i = 0.008; n = 8

---

Definitions:

Target Market

The specific group of consumers at whom a company aims its products and services.