First Corp Bank advertises interest paidať1%every 3 months. atis the annual percentage ate he annual percentage...

Question

Question

First Corp Bank advertises interest paidať1%every 3 months. atis the annual percentage ate he annual percentage rate is [-%

business finance

Answer 1

Answer #1

Annual percentage rate = 1% × (12/3)

Annual percentage rate = 4%

Answer 2

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