SOLUTION: If the annual interest rate on a credit card statement is 22.2%, what is the monthly interest rate? Round your solution to two decimal places.

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Question 1061180: If the annual interest rate on a credit card statement is 22.2%, what is the monthly interest rate? Round your solution to two decimal places.
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
22.2% / 12=1.85% interest per month. ☺☺☺☺