Answer :
The annual interest rate is 8%
The length of the investment in years is 6 yr.
The periodic interest rate is 2%
The number of periods of the investment periods [tex]=\frac{24}{\text { periods. }}[/tex]
As per the details share in the above question are as follow,
Given time period of t=5 years
Where the Interest rate of =8 % (Quarterly compounding)
Note: for quarterly compounding n=4
(a) So the annual interest rate will be of 8 %
(b) Further the length of Investment in years 6 years
(C) The Periodic interest rate
[tex]$(\gamma)=\left(\frac{8}{4}\right)=2 \%$[/tex]
(d) Number of periods for investment [tex]$=n t$[/tex]
[tex]\Rightarrow 4 \times 6=\frac{24}{\text { periods. }}[/tex]
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