Question

How to calculate interest rate per month?

Answer 1

use this link

https://www.calculator.net/interest-rate-calculator.html

Answer 2

1. Convert the annual rate from percentage to
decimal format (by dividing by 100)
2. 10/100 = 0.1 monthly.
3. Divide the annual rate by 12.
4. 0.10/12 = .0083.
5. Calculate the monthly interest on $100.
6. 0.0083 x $100 = $0.83.
7. Convert the monthly rate in decimal format
back to a percentage (by multiplying by 100)