How do you round up to the nearest 1/8th of 1% when working with interest rates?

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How do you round up to the nearest 1/8th of 1% when working with interest rates?

2006-10-05 06:39:30 · 2 answers · asked by toruleu 1 in Business & Finance ➔ Other - Business & Finance

2 answers

1/8th of a percent is the same as 0.125 of a percent.
If you have 2.125 that is 2 1/8 percent.
2.25 is 2 2/8 percent or 2 1/4
To round in for interest you almost always round up.

2006-10-05 06:51:11 · answer #1 · answered by Pixie Dust 3 · 0⤊ 0⤋

1/8 =.125 2/8=.250 3/8=.375 4/8=.500 5/8=.625 6/8=.750 7/8=.875

2006-10-05 06:51:03 · answer #2 · answered by golferwhoworks 7 · 0⤊ 0⤋