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Annual interest is interest that accumulates every year. This is a predetermined percentage that is added to a loan or credit card payment.

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11y ago

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How to convert a monthly interest rate to an annual interest rate?

To convert a monthly interest rate to an annual interest rate, you can multiply the monthly rate by 12. This will give you the annual interest rate.


How do you convert annual interest rate to monthly?

Let i = annual rate of interest. Then i' = ((1+i )^(1/12))-1 Where i' = monthly rate of interest


What is the true annual rate of interest charged?

The true annual rate of charged interest is called the annual percentage yield. It is the interest charged and compounded against.


How can I convert an annual interest rate to a monthly interest rate?

To convert an annual interest rate to a monthly interest rate, divide the annual rate by 12. This will give you the equivalent monthly rate.


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


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Earl's 1000 bond earns 6.2 percent in annual interest What is the annual interest?

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What is the annual interest on a 20000 loan when monthly interest payments are 141.66 on the full amount?

To find the annual interest rate on a $20,000 loan with monthly interest payments of $141.66, first calculate the total annual interest by multiplying the monthly payment by 12. This results in an annual interest of $1,699.92. To find the interest rate, divide this amount by the loan amount ($20,000) and then multiply by 100 to express it as a percentage. The annual interest rate is approximately 8.5%.


What is the annual interest rate on 5000 compounded continuously at 6.3 annual interest rate?

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What is the annual rate of an investment 20000 at an annual interest rate of 7 and 12000.00 at an annual interest rate of 7.5 what was his annual income on the two investment?

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Investing 450.00 at 3.5 percent annual interest or 400.00 at 4.5 percent annual interest What is the difference in the amount of interest that could be earned?

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Calculate the monthly interest rate for a credit card with an annual interest rate of 15.5?

To calculate the monthly interest rate from an annual interest rate of 15.5%, divide the annual rate by 12. Thus, the monthly interest rate is 15.5% ÷ 12 = 1.2917%. This means the monthly interest rate is approximately 1.29%.