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19 November, 17:02

The annual interest rate of Marcella's savings account is 7.2%, and simple interest is calculated semi-annually. What is the periodic interest rate of Marcella's account?

A. 0.8%

B. 1.2%

C. 3.6%

D. 0.4%

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Answers (1)
  1. 19 November, 19:00
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    The periodic interest is the same with the semi-annually interest. All you have to do is to divide 7.2 by 2. The right answer is C. 3.6%.
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