kmoneyy6558 kmoneyy6558
  • 26-03-2019
  • Mathematics
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If prices increase at a monthly rate of 3.7%, by what percentage do they increase in a year?

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jcultr4s3nse
jcultr4s3nse jcultr4s3nse
  • 26-03-2019

Since there are 12 months in a year, and it increases at a rate of 3.7% every month, we can get the correct answer by multiplying 3.7% by 12.
3.7*12=44.4
It increased at a percentage of 44.4 each year.
Hope this helps!
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