SOLUTION: if my savings account give me 5% interest per year, how much interest is that per month?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: if my savings account give me 5% interest per year, how much interest is that per month?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 590499: if my savings account give me 5% interest per year, how much interest is that per month?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
0.05/12 = 0.0042 = 0.42%
=====================
Cheers,
Stan H.