Q336
Finance company providing loans at 12% with 2 compounding periods per year, periodic rate is classified as
A.
3% per quarter
B.
6% per quarter
C.
6% per year
AnswerD.
0.1667 % per year
Answer: Option C
Solution
Answer: Option C
Solution:
Finance company providing loans at 12% with 2 compounding periods per year, periodic rate is classified as 6% per year.