SOLUTION: I am trying to figure out interest rate per month. My annual interest rate is 5.75% but I can't figure out how to change that into it's interest rate per month instead of annual.

Question 595297: I am trying to figure out interest rate per month. My annual interest rate is 5.75% but I can't figure out how to change that into it's interest rate per month instead of annual.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
I am trying to figure out interest rate per month. My annual interest rate is 5.75% but I can't figure out how to change that into it's interest rate per month instead of annual.
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5.75/12 =~ 0.479167% per month

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