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Brainliest + Points! [Please explain]

If the annual interest rate is 10%, what is the approximate monthly interest rate?

A.
0.833%

B.
0.923%

C.
0.95%

D.
0.959%

Respuesta :

Answer:

Step-by-step explanation:

10/12=.833

we know that there are 12 months in a year. so the %10 annually is evenly spread out whether it be daily monthly weekly. so just divide the %10 by 12.  

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