The conversation between human and AI assistant.
How does 12% interest provide 1% cash every month?
Can you explain to me how 12% interest provides 1% cash every month?
Of course! When a bank account provides 12% interest annually, it means that the account balance will grow by 12% over the course of a year. 1% cash every month would come from withdrawing a portion of that interest every month, which would equal 1% of the balance each time.