If the simple annual interest rate on a bond fund is 6.4%, what is the interest rate per quarter?

To find the interest rate per quarter from an annual simple interest rate, we can divide the annual interest rate by the number of quarters in a year. Since there are 4 quarters in a year, we use the following formula:

\[
\text{Quarterly Interest Rate} = \frac{\text{Annual Interest Rate}}{4}
\]

Given that the annual interest rate is 6.4%, we can calculate the quarterly interest rate:

\[
\text{Quarterly Interest Rate} = \frac{6.4\%}{4} = 1.6\%
\]

### Answer:
The interest rate per quarter is **1.6%**.

Would you like more details, or do you have any other questions?

### Related Questions:
1. What is the formula for converting annual to monthly interest rates?
2. How does compounding affect the quarterly interest rate?
3. What is the difference between nominal and effective interest rates?
4. How would you calculate the amount of interest earned in a quarter with a simple interest rate?
5. How would the calculation change if the interest were compounded quarterly instead?

### Tip:
When calculating interest rates for different periods, always ensure you adjust for the compounding period or time frame correctly to avoid errors in financial calculations.

Find out how to calculate the quarterly interest rate when given a simple annual interest rate of 6.4%. This guide covers the basic concept of interest rate conversion, showing that the quarterly interest rate is 1.6%. Suitable for students in Grades 9-12.

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