Answer:
The periodic interest rate of Jacques' account is 0.3%
Step-by-step explanation:
The annual interest rate of Jacques' savings account is 3.6%.
In a year, there are 12 months. So dividing the total annual interest rate with 12 we will get the interest for each month.
Hence, the monthly interest rate will be,
[tex]=\dfrac{3.6}{12}[/tex]
[tex]=0.3\%[/tex]
Therefore, the periodic interest rate of Jacques' account is 0.3%
