If Camon has a 21 percent annual interest rate what is his monthly interest rate?

IF the interest is compounded monthly, as on a revolving credit card or an investment where monthly compounding is expressly stated, then the interest at the end of each month should be 1.05% . It...

1.5% monthly

22. The spot Yen/US$ exchange rate is Yen119.795/US$ and the one year forward rate is Yen114.571/US$. If the annual interest rate on dollar CDs is 6%, what would you expect the annual interest rate...

1.5% monthly

If the interest is simple exact interest, the answer is 17.7/365 = 0.0485 daily percent interest, to the justified number of significant digits.