A credit card advertises an annual interest rate of 23%.

What is the equivalent monthly interest rate?
I=_______^_t

Question

A credit card advertises an annual interest rate of 23%.

What is the equivalent monthly interest rate?
I=_______^_t

pooja195 · Answer

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pooja195 · Answer

Divide the yearly interest rate by 12 to get the monthly interest rate

anonymous · Answer

thank you|dw:1424728290486:dw|