Posted by **George** on Wednesday, November 2, 2011 at 10:15pm.

The annual interest rate on an investment is 8%. What is the quarterly rate?

(a) 1% (b)12% (c) 16% (d)2% (e)3%

Can someone help me figure out the formula for finding out the quarterly rate?

- Math -
**Reiny**, Wednesday, November 2, 2011 at 10:19pm
how many quarters are there in a year?

so the rate per quarter is .... ?

- Math -
**George**, Wednesday, November 2, 2011 at 10:27pm
2%, am i right?

- Math -
**Tanya**, Sunday, May 6, 2012 at 2:17am
A car dealer carries out the following calculations. What is the annual percentage rate? (Round your answer to the nearest tenth.)

List price $ 5,368.00

Options $ 1,625.00

Destination charges $ 200.00

Subtotal $ 7,193.00

Tax $ 431.58

Less trade-in $ 2,932.00

Amount to be financed $ 4,692.58

8% interest for 48 months $ 1,501.63

MONTHLY PAYMENT $ 129.05

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