3poils
kim's credit card has a 25% apr. find the periodic interest rate from june 3
to july 2. round your answer to two decimal places.
o
a. 2.12%
b. 2.30%
o c. 6.80%
o d. 2.05%
submit

The periodic interest rate from June 3  to July 2 will be 2.08%

Step-by-step explanation:

Given:

Annual percentage rate  = 25%

Time period  = June 3  to July 2

To Find:

Periodic interest rate  =?

Solution:

The periodic interest rate r is calculated using the following formula:

Where,

i = nominal annual rate

n = number of payments per year i.e., 12 for monthly payment, 1 for yearly payment and so on.

m = number of compounding periods per year

The period interest rate per payment is integral to the calculation of annuity instruments including loans and investments.

Now substituting the values we get

not only in mathematics, scientific proof also are required in the other field of science. also maths proofs are of particular structure, containing steps and logics. so proving is like doing science, it is science. that's why it is important to prove. 

an inaccurate proof leads to errors, or stating results that are not accurate.  which wil mess the probelm up you dont want this

yes the total will be same because in both of them the expression.is rearranged but their sign remains the same hence it hss just been shuffled