What is an annual interest rate?

Answer An annual interest rate is the cost to borrow money expressed as a yearly percentage. The annual percentage rate also includes any fees or costs associated with the transaction according to the web... Read More »

Top Q&A For: What is an annual interest rate

What is apy&annual interest rate?

Interest is a fee that is paid to borrow money. When you deposit money in a bank savings account or certificate of deposit, the bank pays you interest. Depending on how your interest is calculated,... Read More »

What is the average annual interest rate for a 401k investment?

The average return for a 401(k) account depends on the specific investments in the account. A good index for average market returns is the S&P 500, which has yielded an average annual return of ab... Read More »

How do I convert monthly interest to an annual rate?

Calculate Monthly Interest RateDivide the amount of interest paid in the month by the balance of the account to calculate the monthly interest rate. For example, if you were paid 80 cents of intere... Read More »

How do i calculate effective annual interest rate on a car loan?

Gather InformationLook up the annual percentage rate, or APR, of your car loan. Convert it to a decimal by removing the percent symbol and moving the decimal point two spots to the left. For exampl... Read More »