If the simple annual interest rate on a loan is 6, what is the interest rate in percentage per month?

0.5 %  

Step-by-step explanation:

 Annual rate = 6 %/yr

Monthly rate = ¹/₁₂ × 6 = 0.5 %/mo

If you invested $100 at 6 % annual simple interest, you would have $106 at the end of the year.

Simple interest is calculated only on the principal.

If the interest were calculated at 0.5 % monthly simple interest, you would get $0.50 at the end of each month. At the end of 12 mo, you would have $106.

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step-by-step explanation:

hey! so 1 (25) out of 4 (100) is 25 so your answer is 25%. it's like quarters!