A Bank Pays Interest Quarterly with an EAR of 8

question 16

Multiple Choice

A bank pays interest quarterly with an EAR of 8%.What is the periodic interest rate applicable per quarter?

• A)1.46%
• B)1.80%
• C)1.94%
• D)2.00%

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Definitions:

Publishing

The business or process of producing and distributing books, journals, music, or software to the public for sale or free distribution.

Patient Care Partnership

Principles that outline the respectful and ethical treatment of patients within the healthcare system.

Oral Testimony

Evidence given by a witness through spoken words, rather than in written form, in a court of law or other formal inquiry.

Concise

Brevity; the use of no unnecessary words.