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13-02-2019
Mathematics

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If the annual interest rate is 10%, what is the approximate monthly interest rate?

A.
0.833%

B.
0.923%

C.
0.95%

D.
0.959%

Respuesta :

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13-02-2019

Answer:

0.833%

Step-by-step explanation:

10%

it will be 10%/12

12 for a year

10%/12=0.833 repeatedly

the annual interest rate 10% is approximate monthly interest rate of 0.833%

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