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0.67 percent

Q: What is the effective annual rate of 8 percent interest that is compounded monthly?

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"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?

6.485% (rounded)

Compounded annually: 2552.56 Compounded monthly: 2566.72

With simple interest, it is 1.5% per month. If compounded, it is 1.389% approx.

Related questions

14.651

0.9938% per month, when compounded is equivalent to 12.6% annually.

It is 0.833... recurring % if the interest is simple, or compounded annually. If compounded monthly, it is approx 0.797 %

3

"How much money should be deposited at 4.5 percent interest compounded monthly for 3 years?"Incomplete question.... to do what?

6.485% (rounded)

$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

$194.25 if interest is compounded annually. A little more if compounded quarterly, monthly, or daily.

Compounded annually: 2552.56 Compounded monthly: 2566.72

With simple interest, it is 1.5% per month. If compounded, it is 1.389% approx.

Assuming that the interest rate is 9.75% per year, the answer will depend on how often the interest is compounded.

If it is 10.24% (per month), then the APR is 222%, but if it's 10.24% compounded monthly, then APR is 10.7345%