Register
A credit card advertises an annual interest rate of 23%. What is the equivalent monthly interest rate?
219k views
3 votes
A credit card advertises an annual interest rate of 23%.

What is the equivalent monthly interest rate?

User Christopher Douglas
by
6.9k points

2 Answers

4 votes
the answer its 1.92%
User Varun Sukheja
by
8.2k points
6 votes
I think we just divide by 12.
23%/12 = 1.92%
User Marthijn
by
6.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!