Question

FORMULA OF (RATE PERCENT PER ANNUM)​

Answer 1

Answer:

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Answer 2

Answer:

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Step-by-step explanation:

To convert the periodic interest rate to an annual interest rate using the simple interest formula, simply multiply the periodic interest rate by the number of periods per year to calculate the interest rate per annum. For example, if the interest rate is 0.75 percent per month, there are 12 months per ye