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10 April, 13:17

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. 10 April, 15:33
    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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