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What is the monthly interest rate if an annual rate is 12.3%? The monthly interest

(Type an integer or decimal rounded to two decimal places as needed.)​

Respuesta :

Interest for 1 year=12.3℅

Interest for 12months=12.3℅

[tex]\\ \qquad\quad\sf\longmapsto Interest\:for\:one\:Month[/tex]

[tex]\\ \qquad\quad\sf\longmapsto \dfrac{12.3}{12}[/tex]

[tex]\\ \qquad\quad\sf\longmapsto 1.025\℅[/tex]

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