/ by 12
Let i = annual rate of interest. Then i' = ((1+i )^(1/12))-1 Where i' = monthly rate of interest
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get the difference of interest rate and monthly periodic payment
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.
To calculate the interest on a loan, you can use the formula: Interest = Principal × Rate × Time. Here, the Principal is the amount borrowed, the Rate is the annual interest rate (as a decimal), and Time is the loan duration in years. For example, if you borrow $1,000 at an interest rate of 5% for 2 years, the interest would be $1,000 × 0.05 × 2 = $100. Be sure to check if the interest is simple or compound, as that will affect your calculations.
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.
Annual Interest Rate divided by 12= Monthly 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.
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] %
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.
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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.
To convert an annual rate to a monthly rate, divide the annual rate by 12. This will give you the equivalent monthly rate.
Multiply the monthly interest rate by the number of months is a year to calculate the annual interest rate: 2% x 12mo = 24%
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.
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.
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.