Final answer:
To find the monthly interest rate from an Annual Percentage Rate (APR) of 22.5%, divide the APR by 12 months. The resulting monthly interest rate would be 1.875%.
Step-by-step explanation:
If the Annual Percentage Rate (APR) is 22.5%, to calculate for the monthly interest rate, you divide the APR by the number of months in a year. Since there are 12 months in a year, the monthly interest rate would be calculated as follows:
APR ÷ Number of months in a year = Monthly Interest Rate
22.5% ÷ 12 = 1.875%
Therefore, the monthly interest rate would be 1.875%.