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What is the monthly interest rate if an annual rate is 17.5%?

rolpace88

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9 years ago

What is the monthly interest rate if an annual rate is 17.5%?

What is the monthly interest rate if an annual rate is 17.5%?
A) 1.4%
B) 14.58%
C) 1.46%
D) 16.5%

Textbook

Business Math

Business Math

Edition: 10^th

Authors: Cleaves, Hobbs, Noble

Read 593 times

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Million

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rolpace88 Author

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#2

9 years ago

Not sure why I found this tricky. Now that I know the answer, it's almost self-explanatory.

Million

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#3

9 years ago

Great, please mark the topic solved!

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