Question: For example, if the interest rate is 3% compounded semiannually, this is represented in thecompoundinterest formula as .03/2. If the interest rate is 7% ,

For example, if the interest rate is 3% compounded semiannually, this is represented in thecompoundinterest formula as .03/2.

If the interest rate is 7% , how would that percent be represented in the compound interest formula if it was compounded

quarterly?

monthly?

annually?

Write an answer as a fraction as above.

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