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Let i = annual rate of interest.
Then i' = ((1+i )^(1/12))-1
Where i' = monthly rate of interest
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∙ 13y ago
Anonymous
if Cameron has a 21% annual interest rate , what is his monthly interest rate ?
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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 do you calculate the Principal repaid after a period of time on a loan?
get the difference of interest rate and monthly periodic payment
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 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 on 18 percent annual rate?
1.5% monthly
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%
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.
What is the monthly interest rate if the annual interest rate on a credit card is 21 percent?
1.75%
Calculate the annual interest rate on a credit card if the monthly interest rate is 1.2.?
14.4 %. A+
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 If the monthly interest is not withdrawn then it makes no difference because the annual interest rate is usually equal to the compounded monthly rate.
What would be the monthly interest on 500000?
The monthly interest on $500,000 will depend on the interest rate at the time the money was borrowed. Interest is usually charged as an annual rate and then broken down into monthly segments.
If Camon has a 21 percent annual interest rate what is his monthly interest rate?
1 3/4%
How do you determine the rate for one month for compounded interest?
On monthly compounding, the monthly rate is one twelfth of the annual rate. Example if it is 6% annual, compounded monthly, that is 0.5% per month.
