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    Business Math : Converting Monthly to Yearly Rate

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    Find the rate of interest if money is worth 18% compounded monthly?

    © BrainMass Inc. brainmass.com June 3, 2020, 5:11 pm ad1c9bdddf
    https://brainmass.com/business/business-math/business-math-converting-monthly-yearly-rate-17049

    Solution Summary

    A monthly interest rate is converted to a yearly rate and the details are provided in the solution.

    $2.19

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