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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.
If you take a home loan for 250000 toady at a 7 fixed rate for 25 years how much will the monthly payment be?
To calculate the monthly payment for a home loan of $250,000 at a fixed interest rate of 7% over 25 years, you can use the formula for a fixed-rate mortgage payment, which is ( M = P \frac{r(1 + r)^n}{(1 + r)^n - 1} ). Here, ( P ) is the loan amount ($250,000), ( r ) is the monthly interest rate (7% annual rate divided by 12 months, or approximately 0.005833), and ( n ) is the total number of payments (25 years times 12 months, or 300). Plugging in these numbers, the monthly payment comes out to approximately $1,755.74.
How do you calculate the hourly rate for a salaried employee based on a 40 hr work week?
To calculate the hourly rate for a salaried employee based on a 40-hour work week, first determine the annual salary. Then, divide the annual salary by the total number of work hours in a year, which is typically 2,080 hours (40 hours/week x 52 weeks/year). The formula is: Hourly Rate = Annual Salary / 2,080. This gives you the hourly wage based on a standard full-time schedule.
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
How can I calculate the monthly percentage rate for a loan or investment?
To calculate the monthly percentage rate for a loan or investment, you can use the formula: Monthly Percentage Rate (Annual Percentage Rate / 12). This formula divides the annual rate by 12 to determine the 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 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 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] %
How can I calculate the monthly interest rate on a loan or investment?
To calculate the monthly interest rate on a loan or investment, divide the annual interest rate by 12. This will give you the monthly interest rate that is applied to the loan or investment.
How to calculate the annual percentage rate (APR) from a given monthly payment amount?
To calculate the annual percentage rate (APR) from a given monthly payment amount, you would need to know the loan amount, the term of the loan, and any additional fees or charges. Using these values, you can use a formula to solve for the APR.
Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.?
14.4 %. A+
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 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%
Caleb bought a car for 6900. He agreed on a five- year loan at a 5.4 interest rate. Calculate what Caleb and monthly payments will be.?
To calculate Caleb's monthly payments for a $6,900 car loan at a 5.4% annual interest rate over five years, we can use the formula for an amortizing loan. The monthly interest rate is 5.4% divided by 12, or approximately 0.0045. Using the loan formula, Caleb's monthly payments would be approximately $131.86.
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 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.
