Dianala B. answered • 01/22/15
Tutor
4.8
(18)
Bilingual (Eng/Span) K-12 and College Level Educator and Researcher
Calculate by taking the APR/12
9%/12 = .75% monthly interest rate.
Similarly, if the APR was 12%, the calculation would be 12%/12, resulting in a 1% monthly interest rate.
