answersLogoWhite

0

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.

User Avatar

AnswerBot

1w ago

Still curious? Ask our experts.

Chat with our AI personalities

CoachCoach
Success isn't just about winning—it's about vision, patience, and playing the long game.
Chat with Coach
BlakeBlake
As your older brother, I've been where you are—maybe not exactly, but close enough.
Chat with Blake
ViviVivi
Your ride-or-die bestie who's seen you through every high and low.
Chat with Vivi

Add your answer:

Earn +20 pts
Q: How much is monthly interest on 150000 at 3 percent?
Write your answer...
Submit
Still have questions?
magnify glass
imp