Math
posted by George
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?

Reiny
how many quarters are there in a year?
so the rate per quarter is .... ? 
George
2%, am i right?

Tanya
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 tradein $ 2,932.00
Amount to be financed $ 4,692.58
8% interest for 48 months $ 1,501.63
MONTHLY PAYMENT $ 129.05
Respond to this Question
Similar Questions

math
find the effectivee rate correspoding to 3% compounded quarterly The formula for effective rate I found is (1+ i/n)^n  1 where i is the annual rate as a decimal and n is the number of periods. Here i=.03 so the effective rate is and … 
Math  Compound
If a bank offers interest at a nominal rate of 6%, how much greater is the effective rate if interest is compounded continuously than if the compounding is quarterly? 
Algebra
Joanie takes a $6000 loan to pay for her car. The interest rate on the loan is 12%. She makes no payments for 4 years, but has to pay back all the money she owes at the end of 4 years. How much more money will she owe if the interest … 
math
How much interest is earned from a $3,000 investment at an annual rate of 4% compounded quarterly for 2 years? 
programming
Having troube with java, i am not a regular programmer, if anybody can help me out writting this program: write a program that takes two numbers from the java console representing, respectively, an investment and an interest rate(you … 
math
An amount of $3000 was deposited in a bank at a rate of 2% annual interest compounded quarterly for 3yrs. The rate then increased to 3% annual interest and ws compounded quarterly for the next 3 yrs. If no money was withdrawn what … 
Algebra
I can not figure these out for the life of me. Any help is appreciated. 1. Find the final amount of an investment if $2,000 is invested at an interest rate of 8% compounded quarterly for 8 years. I used interest formula and came up … 
math
What is the value of an initial investment of $2300 after twelve years if the interest accrued is compounded quarterly, and the annual rate is 6.5%? 
Math
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month … 
Math
Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month …