Mathematics, 13.10.2020 01:01, anniekwilbourne
Alan says that a growth rate of 12% per year is equivalent to a growth rate of 1% per month because there are 12 months in a year and 12%÷12=1%. Explain why Alan is mistaken, and approximate the correct monthly growth rate that is equivalent to an annual growth rate of 12%. Round to two decimal places.
Answers: 3
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Alan says that a growth rate of 12% per year is equivalent to a growth rate of 1% per month because...
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