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August 29, 2014

August 29, 2014

Posted by **carmen** on Monday, March 26, 2007 at 1:19am.

Are you sure you mean 7 3/2% ? No lender would write an intereest rate that way.

Perhaps you typed a numerator or denominator wrong. Do you mean 7 1/2%, or 7 3/8 %, for example?

In any case, subtract the "last month" interest rate from the current interest rate to get the answer. This can be done by either decimal conversion or by finding a common denominator for the interest rates.

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