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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 formula to calculate monthly pay from annual rate?
/ by 12
The amount of interest is determined by multiplying the amount in savings by the?
Annual interest rate
What of these describes annual percentage rate?
A measure of the cost of credit expressed as a yearly interest rate A+
How much per annum is 18 percent per month?
To calculate the annual interest rate of 18 percent per month, you first need to multiply the monthly rate by 12 to get the annual rate. So, 18 percent per month would be 18% x 12 = 216% per year. This means that the interest accrued annually would be 216% of the initial amount borrowed or invested.
How to convert a monthly interest rate to an annual interest rate?
To convert a monthly interest rate to an annual interest rate, you can multiply the monthly rate by 12. This will give you the annual interest rate.
How can I convert an annual interest rate to a monthly interest rate?
To convert an annual interest rate to a monthly interest rate, divide the annual rate by 12. This will give you the equivalent monthly rate.
How can I calculate the monthly interest rate from an annual interest rate?
To calculate the monthly interest rate from an annual interest rate, divide the annual rate by 12. This will give you the monthly interest rate.
How can I convert an annual rate to a monthly rate?
To convert an annual rate to a monthly rate, divide the annual rate by 12. This will give you the equivalent monthly 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 much is monthly interest on 150000 at 3 percent?
To calculate the monthly interest on $150,000 at an annual interest rate of 3 percent, first convert the annual rate to a monthly rate by dividing by 12. This gives a monthly rate of 0.25 percent (3% ÷ 12). Then, multiply the principal amount by the monthly rate: $150,000 × 0.0025 = $375. Therefore, the monthly interest is $375.
How to convert a yearly interest rate to a monthly interest rate?
To convert a yearly interest rate to a monthly interest rate, divide the yearly rate by 12. This will give you the equivalent 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] %
What is the monthly interest rate if the annual interest rate is 18 percent?
1.5% monthly
What is the monthly interest rate for fixed rate bonds?
The monthly interest rate for fixed rate bonds is the annual interest rate divided by 12.
What is the monthly interest rate on 18 percent annual rate?
1.5% monthly
What is the quarterly interest rate if the annual percentage rate is 7 with monthly compounding?
The quarterly interest rate with monthly compounding for an annual percentage rate of 7 is approximately 1.75.
