**An annuity written as a geometric series has r equal to 1.005 , determine the annual interest rate for the annuity if the interest is compounded monthly**

**Answer:**

1.005^12 = 1 + r

**An annuity written as a geometric series has r equal to 1.005 , determine the annual interest rate for the annuity if the interest is compounded monthly**

**Answer:**

1.005^12 = 1 + r