Answer:
15.19%
Explanation:
According to the given situation, the computation of the annual percentage rate is shown below:-
Annual percentage rate = (1 + APR ÷ n^n) -1)
Now we will put the values into the above formula to reach the annual percentage rate
= ((1.1608) × 0.25 - 1) × 4
= 0.1519
or
= 15.19%
Therefore for computing the annual percentage rate we simply applied the above formula.
