If your credit card calculates interest based on $17\mathrm{.}85\%$APR$,$ compounded quarterly$$:

$($a$)$ What are your quarterly interest rate and annual effective interest$$ rate?

$($b$)$ If your current outstanding balance is $$$$3$ comma $200$ and you skip payments for three quarters$,$ what would be the total balance three quarters from$$ now?

Question content area bottom

Part $1$

$($a$)$ Your quarterly interest rate is

$$

enter your response herIf your credit card calculates interest based on $17\mathrm{.}85\%$APR$,$ compounded quarterly$$:

$($a$)$ What are your quarterly interest rate and annual effective interest$$ rate?

$($b$)$ If your current outstanding balance is $$$$3$ comma $200$ and you skip payments for three quarters$,$ what would be the total balance three quarters from$$ now?

Question content area bottom

Part $1$

$($a$)$ Your quarterly interest rate is

$$

enter your response here$\%$