The annual interest rate of mike's savings account is 4.8%, and simple interest is calculated monthly. what is the periodic interest rate of mike's account? a.0.6% b.0.9% c.1.8% d.0.4%

The correct option will be: d. 0.4%

For finding the periodic interest rate , we need to divide the annual interest rate by the number of times interest calculated in a year.

Here, the simple interest is calculated monthly, that means the number of times interest calculated in a year will be 12.

Annual interest rate is 4.8%

So, the periodic interest rate = %

The correct option will be: d. 0.4% Apex

Step-by-step explanation:

step-by-step explanation:

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hj=3x+20

ji=15x-64

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step-by-step explanation: