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If the interest rate is 10% a month what is the annual rate? 213.8?
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If the interest rate is 10% a month what is the annual rate? 213.8?

User Harsh Verma
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1 Answer

4 votes
on month -------- 10%
12 month ---------- x %
-------------------------------
x = 12*10/1 = 12*10 = 120%
User Sirandy
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