Effective Monthly Interest Rate Calculator

How to use this effective monthly interest rate calculator

1. Enter an annual interest rate (APR).
2. Click Calculate to convert it to an effective monthly interest rate.
3. Use the monthly rate for loan calculations or financial planning.

Example

For example, converting a 12% APR shows the effective monthly rate used in loan amortization formulas.

• APR of 12% → monthly interest rate ~0.9489%
• Useful for mortgage, personal loan, and investment calculations

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