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10 percent interest per month any bank name
4,000
3 percent of 170 is 5.10
It would come out to about $250 a month at 1% per annum.
$73053.88 when compounded month your yearly rate would be 0.061678% * * * * * True, but in real life the quoted interest rate, "6 percent compounded monthly", should read "an interest rate, such that, if it were compounded monthly, would give an annual equivalent rate of 6 percent". The equivalent of 6% annual is 0.487% monthly since 1.0048712 = 1.06
7% of 3,000 for 6 month
10 percent interest per month any bank name
4,000
3 percent of 170 is 5.10
252
8941.17652.01%
11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.
$400000
2.75
It would come out to about $250 a month at 1% per annum.
With simple interest, it is 1.5% per month. If compounded, it is 1.389% approx.
$73053.88 when compounded month your yearly rate would be 0.061678% * * * * * True, but in real life the quoted interest rate, "6 percent compounded monthly", should read "an interest rate, such that, if it were compounded monthly, would give an annual equivalent rate of 6 percent". The equivalent of 6% annual is 0.487% monthly since 1.0048712 = 1.06