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How do you convert annual interest rate to monthly?
Let i = annual rate of interest. Then i' = ((1+i )^(1/12))-1 Where i' = monthly rate of interest
Formula to calculate annual salary if you are paid biweekly?
there are 26 biweekly periods in 1 year.for a salary rate of $20/hour and typical working hours of an 8 hour/dayin 2 weeks, you will have a gross pay of = $1600annually, $1600 x 26 = $41600you may try the online salary calculator linked below if you want to estimate a salary in weekly, biweekly or monthly period.it will also automatically calculate for an hourly, daily, monthly or annual salary rate.
How do you calculate the Principal repaid after a period of time on a loan?
get the difference of interest rate and monthly periodic payment
The annual interest rate of Paul's savings account is 7.2 and simple interest is calculated monthly What is the periodic interest rate of Paul's account A1.8 B0.6 C0.4 D0.9?
7.2/12 = 0.6
What is the formula for insurance premium calculation?
The formula for calculating insurance premium uses the DRF and the 6-month basic rate. It is:p = 2rbwhere p is the annual premium, r is the DRF, and b is the 6-month basic rate.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
How do you calculate monthly interest rate on an annual interest rate?
If not compounded monthly, a monthly interest rate is simply 1/12 of the annual rate. Things do get complicated, though if the interest is compounded monthly. An annual interest rate of R% is equivalent to a monthly rate of 100*[(1 + R/100)^(1/12) - 1] %
Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.?
14.4 %. A+
What does 2 percent monthly interest translate to in annual interest?
Multiply the monthly interest rate by the number of months is a year to calculate the annual interest rate: 2% x 12mo = 24%
Calculate the annual interest rate on a credit card if the monthly interest is 1.2 percent?
14.4%
How do you convert annual interest rate to monthly?
Let i = annual rate of interest. Then i' = ((1+i )^(1/12))-1 Where i' = monthly rate of interest
What is the monthly interest rate on 18 percent annual rate?
1.5% monthly
What is used to calculate by using standard formula to show the cost of a loan?
annual percentage rate
Calculate the monthly interest rate on a credit card that charges 18 percent annual interest?
1.5 or 1.50
What is the monthly interest rate if the annual interest rate is 18 percent?
1.5% monthly
How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
Converting semi monthly to hourly rate?
Take the semi-monthly rate and multiply by 12 to get the annual rate. Then take the annual rate and divide by 2080. To veryify your answer, take the hourly rate you just calculated and multiply by 86.67 and see how close you come back to the semi-monthly rate. Or, you can take the semi-monthly rate and divide by 86.67 (average hours in semi-monthly pay period) to get an hourly rate.
