SOLUTION: For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form. 5% APR compounded monthly. Please

Question 997558: For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form.
5% APR compounded monthly.
Please help, I have over 50 questions similar to this one, and do not understand how to do it! Explanation needed!
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
For each of the following accounts, determine the percent change per compounding period. Give your answer in both decimal and percentage form.
5% APR compounded monthly.
------------
5% per year --> 5/12% per month
= 0.41666...% per month
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