If the simple annual interest rate on a loan is 6, what is the interest rate in percentage per month?

0.5 %

Step-by-step explanation:

Annual rate = 6 %/yr

Monthly rate = ¹/₁₂ * 6 = 0.5 %/mo

If you invested $100 at 6 % annual simple interest, you would have $106 at the end of the year.

Simple interest is calculated only on the principal.

If the interest were calculated at 0.5 % monthly simple interest, you would get $0.50 at the end of each month. At the end of 12 mo, you would have $106.