Converting AER to a Monthly Rate Simplified Revision Notes for Leaving Cert Mathematics

Revision notes with simplified explanations to understand Converting AER to a Monthly Rate quickly and effectively.

Learn about Applications of Geometric Series for your Leaving Cert Mathematics Exam. This Revision Note includes a summary of Applications of Geometric Series for easy recall in your Mathematics exam

262+ students studying

Converting AER to a Monthly Rate

In some cases AER may need to be converted monthly or weekly. There are 12 months in a year and 52 weeks.

\text{Monthly Rate}=(1+\text{AER})^\tfrac{1}{12}-1

\text{Weekly Rate}=(1+\text{AER})^\tfrac{1}{52}-1

Example

infoNote

Find the monthly compound interest rate which is equivalent to an AER of $4 \%$ .

(1+0.04)^\tfrac{1}{12}-1=:success[0.327 \%]

Example

infoNote

Find the weekly compound interest rate which is equivalent to an AER of $4 \%$ .

(1+0.04)^\tfrac{1}{52}-1=:success[0.0755\%]

500K+ Students Use These Powerful Tools to Master Converting AER to a Monthly Rate For their Leaving Cert Exams.

Enhance your understanding with flashcards, quizzes, and exams—designed to help you grasp key concepts, reinforce learning, and master any topic with confidence!

70 flashcards

Flashcards on Converting AER to a Monthly Rate

Revise key concepts with interactive flashcards.

Try Mathematics Flashcards

6 quizzes

Quizzes on Converting AER to a Monthly Rate

Test your knowledge with fun and engaging quizzes.

Try Mathematics Quizzes

29 questions

Exam questions on Converting AER to a Monthly Rate

Boost your confidence with real exam questions.

Try Mathematics Questions