Q: What is the monthly interest rate of 18 percent annually?

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Compounded annually: 2552.56 Compounded monthly: 2566.72

0.67 percent

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

11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.11000*6/100 = 6606% per month is an outlandish interest rate - equivalent to more than 100 percent annually.

Approximately 7 years. The general rule is to divide 70 by the interest rate to get an approximation of how long it will take to double. If the interest is compounded annual you will have $194.88 after 7 years, and $214.37 after 8 years. Though if interest is compounded more regularly (ie. monthly or daily) this will grow at a slightly faster rate.

Related questions

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

1.5% monthly

Compounded annually: 2552.56 Compounded monthly: 2566.72

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

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

1.5% monthly

Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.

90,000

1.75%

14.651

1 3/4%

19.2