01110000 01110101 01110010 01110000 01101100 01100101

However, you need to work with months, not years. To calculate the monthly interest rate, you will need to divide the annual rate by 12 (the number of months in a year). Therefore, we'll need to enter the following formula in cell B1: =7%/12 . Press the ENTER key or down arrow and Excel will calculate your monthly interest rate (0.005833). ................
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