How can you calculate this into a calculator or on excel: Your...

90.2K

Verified Solution

Question

Accounting

How can you calculate this into a calculator or on excel:

Your bank pays 12.7% total interest on your savings account over the course of the year. Interest is paid on a monthly frequency. What is per period interest rate associated with this account?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students