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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 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.
If Cameron has a 21 annual rate on his credit card what is his monthly interest rate?
To find Cameron's monthly interest rate from an annual rate of 21%, you divide the annual rate by 12 months. This means the monthly interest rate is 21% ÷ 12 = 1.75%. Therefore, Cameron's monthly interest rate is 1.75%.
What is the monthly rate of interest that will yield an annual effective rate of 12 percent?
To find the monthly rate of interest that yields an annual effective rate of 12 percent, you can use the formula for the effective annual rate: ( (1 + r)^n - 1 ), where ( r ) is the monthly interest rate and ( n ) is the number of compounding periods in a year (12 for monthly). Setting up the equation: ( (1 + r)^{12} = 1.12 ). Solving for ( r ) gives ( r = (1.12)^{1/12} - 1 ), which is approximately 0.009488 or 0.9488%. Therefore, the monthly interest rate is about 0.9488%.
What is the monthly interest rate if the annual interest rate is 18 percent?
1.5% monthly
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.
What is the monthly interest rate if the annual interest rate on a credit card is 21 percent?
1.75%
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 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.
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%
If Camon has a 21 percent annual interest rate what is his monthly interest rate?
1 3/4%
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.
If Dexter pays a monthly interest rate of 1.9 percent what is his annual percent rate?
22.8 or 22.80
What if Dexter pays a monthly interest rate of 1.9 percent what is his annual percent rate?
22.8 or 22.80
What is the effective annual rate of 8 percent interest that is compounded monthly?
0.67 percent
