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What is the formula to calculate monthly interest rate if the annual interest rate is known?
Wiki User
∙ 13y ago
Annual Interest Rate divided by 12= Monthly Interest Rate
Wiki User
∙ 13y ago
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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 is 1.2 percent?
14.4%
Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.?
14.4 %. A+
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
What is formula to calculate monthly pay from annual rate?
/ by 12
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%
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+
Calculate the annual interest rate on a credit card if the monthly interest is 1.2 percent?
14.4%
Calculate the monthly interest rate on a credit card that charges 18 percent annual interest?
1.5 or 1.50
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 if the annual interest rate is 18 percent?
1.5% monthly
What is the monthly interest rate on 18 percent annual rate?
1.5% monthly
Interest on maturity is better or monthly interest?
If you need a monthly income then obviously a monthly income is better. If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
How much interest would be paid on 75000 at 0.65 percent?
if .65 is annual rate.. and you are calculating annual interest.. then 75000*.65/100 = 487.5 annual intrest just make sure the interest rate and period should be same. for example you need to calculate monthly intrest from above equation then u have to divide your answer by 12 487.5/12 = 40.625 monthly intrest
What is monthly interest if balance is 20500 at interest rate of 6.5 percent?
Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.
