Find the periodic rate that corresponds to the given compound rate, if the rate is compounded as follows. (round your answers to eight decimal places.) compound rate = 18% (a) quarterly periodic rate = ? (b) monthly periodic rate = ? (c) daily periodic rate = ? (d) biweekly (every two weeks) periodic rate = ? (e) semimonthly (twice a month) periodic rate = ?

Step-by-step explanation:

Apparently, your periodic rate is that used to compute the interest accrued each period. It seems to be the compound (annual) rate divided by the number of periods in a year: quarterly, 4; monthly, 12; daily, 365; biweekly, 26; semimonthly, 24.

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If you want the effective annual rate to be 18% in each case, the numbers are different. For n periods per year, those are calculated as

A periodic rate of 0.04224664 will give an effective annual rate of 18%.

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