Ask Question
25 May, 01:48

A pawnshop with a monthly interest rate of 3.15 percent would have an annual interest rate of percent. (Round your answer to 2 decimal places.) Multiple Choice 3.15 31.50 3780 18.90 6.30

+2
Answers (1)
  1. 25 May, 03:50
    0
    Annual is 1 year.

    1 year has 12 months.

    Multiply the monthly rate by 12:

    3.15 x 12 = 37.80%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A pawnshop with a monthly interest rate of 3.15 percent would have an annual interest rate of percent. (Round your answer to 2 decimal ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers