Question

What is monthly periodic rate loan with an APR of 18.6%?

Answer 1

Answer:

  1.55%

Step-by-step explanation:

There are 12 months in a year, so you divide the annual rate by 12 to find the monthly rate:

  18.6%/12 = 1.55%

Answer 2

Answer: 1.55%

Step-by-step explanation:

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