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24 January, 20:13

If prices Increase at a monthly rate of 1.4

%, by what percentage do they increase in a year?

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Answers (1)
  1. 24 January, 20:19
    0
    (1+1.4/100) ^12

    1.014^12

    1.181559

    So they increase by about 18.16% per year (to nearest hundredth of a percent)
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