billybobbeau billybobbeau

26-02-2021
Mathematics

contestada

If the annual interest rate is 12%, what is the monthly interest rate?

If the annual interest rate is 12 what is the monthly interest rate class=

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jameskilduff96 jameskilduff96

26-02-2021

Answer:

1%

Step-by-step explanation:

since there are 12 months in a year, 12 divided by 12 = 1 therefore it's 1% per month

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