jbauer4126 jbauer4126
  • 31-08-2021
  • Mathematics
contestada

Determine the bi-monthly periodic interest rate on an account with an 18.99% APR.

a
0.52389%

b
0.6129%

c
0.79125%

d
1.5825%

Respuesta :

musiclover10045
musiclover10045 musiclover10045
  • 31-08-2021

Bi- monthly is 2 times per month.

2 x 12 months = 24

18.99 % / 24 = 0.79125%

Answer: c. 0.79125%

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