Answer:
The monthly percentage rating is 2.2%.
Step-by-step explanation:
Using division helped me find the answer.
26.4 ÷ 12
= 2.2
Answer:
Step-by-step explanation:
The annual percentage rate (APR) refers to the interest you are charged over a 12 month period. That means if we want know the fee charged monthly, we just have to divide the APR by 12. So, doing the division in this problem, we have
[tex]\frac{26.4\%}{12}=2.2\%[/tex]
Therefore, the monthly percentage rate is 2.2%.
