English, asked by amruddhi202010, 7 months ago

How do you calculate monthly interest rate..?

Answers

Answered by premapallak

10

Answer:

To calculate the monthly interest on a loan or investment, you first need to determine the monthly interest rate by dividing the annual interest rate by 12. Next, divide this amount by 100 to convert from a percentage to a decimal. For example, 1% becomes 0.01.

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