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What is monthly periodic rate loan with an APR of 18.6%?
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What is monthly periodic rate loan with an APR of 18.6%?

User John Melville
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2 Answers

2 votes

Answer: 1.55%

Explanation:

I’m not for sure

User Jan Martin Keil
by
4.7k points
5 votes

Answer:

1.55%

Explanation:

There are 12 months in a year, so you divide the annual rate by 12 to find the monthly rate:

18.6%/12 = 1.55%

User Monique De Haas
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5.4k points
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