OrliC486142 OrliC486142

31-10-2022
Mathematics

contestada

What is the yearly rate of interest on a loan if the monthly rate is 2%?

Respuesta :

KedarE584206 KedarE584206

31-10-2022

Given:

the monthly rate is 2%

1 year = 12 months

So, the yearly rate of interest = 12 * 2% = 24%

So, the answer will be 24%

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