Convert annual interest rate to monthly interest rate.? - convert annual interest rate to monthly
Given the annual rate is 9%. What are the monthly fees?
Method 1:
9% / 12 = 7.5%
Method 2:
(1 +9%) ^ (1 / 12) -1 = 7.2%
Which method is correct?
Monday, January 4, 2010
Convert Annual Interest Rate To Monthly Convert Annual Interest Rate To Monthly Interest Rate.?
1 comment:
or a monthly 0.75%
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