Asked by Jackie Duran on May 11, 2024
Verified
Change the monthly rates to annual rates.
a.1%=
__________
b.1.5%=
__________
c.1/3% =
__________
Monthly Rates
Rates recalculated on a monthly basis, often used to express the cost of financing or earning on investments on a monthly timeline.
- Translate interest rates from a monthly basis to an annual basis.
Verified Answer
FD
Learning Objectives
- Translate interest rates from a monthly basis to an annual basis.