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Earn +20 ptsQ: What does annual rate means?
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What is the effective annual rate for a credit card with a 9.9 percent annual percentage rate that is compounded daily?
The effective annual rate for a credit card that carries a 9.9% annual percentage rate (compounded daily) is 10.4%.
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
What is the annual interest rate on 5000 compounded continuously at 6.3 annual interest rate?
I suspect that it will be 6.3!
What is the monthly interest rate for a annual interest rate of 6 percent?
22. The spot Yen/US$ exchange rate is Yen119.795/US$ and the one year forward rate is Yen114.571/US$. If the annual interest rate on dollar CDs is 6%, what would you expect the annual interest rate to be on Yen CDs?
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] %
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