The formula to calculate the Annual Percentage Rate is:
\[ \text{Annual Percentage Rate} = \text{Monthly Periodic Rate} \times 12 \]
Where:
The Annual Percentage Rate is the annual rate charged for borrowing or earned through an investment.
Let's assume the following value:
Using the formula:
\[ \text{Annual Percentage Rate} = 0.25 \times 12 \]
Evaluating:
\[ \text{Annual Percentage Rate} = 3 \]
The Annual Percentage Rate is 3%.
| Monthly Periodic Rate (%) | Annual Percentage Rate (%) |
|---|---|
| 0.1 | 1.200000000000 |
| 0.2 | 2.400000000000 |
| 0.3 | 3.600000000000 |
| 0.4 | 4.800000000000 |
| 0.5 | 6.000000000000 |
| 0.6 | 7.200000000000 |
| 0.7 | 8.400000000000 |
| 0.8 | 9.600000000000 |
| 0.9 | 10.800000000000 |
| 1 | 12.000000000000 |