Ask Question
1 February, 10:42

You take out a $22,500 car loan at 9.6 % APR What is the monthly or periodic interest rate?

+3
Answers (1)
  1. 1 February, 11:07
    0
    0.8%

    Step-by-step explanation:

    The monthly rate is found by dividing the annual rate by the number of months in a year. There are 12 months in a year, so the monthly rate is ...

    9.6% / 12 = 0.8%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You take out a $22,500 car loan at 9.6 % APR What is the monthly or periodic interest rate? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers