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If a bank offers an annual interest rate for the money in your checking account but pays interest monthly that is the annual interest divided by what

If a bank offers an annual interest rate for the money in your checking account but pays interest monthly that is the annual interest divided by what
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If a bank offers an annual interest rate for the money in your checking account but pays interest monthly that is the annual interest divided by what

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User Atsui
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1 Answer

7 votes
there are 12 months in a year.... so divide apr by 12....
answered
User Rajkumar Gour
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