N LTE 3296H 452 PM Test 83 MyMathLab Exam Chapter F This Que

N LTE 3296H 4:52 PM Test: 8-3 MyMathLab Exam: Chapter F This Question: 1 pt 9 of 15 (0 complete) Find i (the rate per period) and n (the number of periods) for the following annuity. Quarterly deposits of $900 are made for 4 years into an annuity that pays 7.5% compounded quarterly i=» (Type an integer or decimal rounded to four decimal places as needed.) Enter your answer in each of the answer boxes.

Solution

Given that n=4 ( quaterly )

So interest for period is I/n

i=0.07/4 => i = 00175

Period = n

=> n = 4