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A unit rate has a denominator of 1 unit.or for an example.. 8 over 1 is a unit rate or 5 over 1 but you have to label what it is....
A unit rate is a rate in which the second number (usually written as the denominator) is 1, or 1 of a quantity
It is the unit 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] %
It is called a unit rate.