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If prices increases at a monthly rate of 2.9%, by what percentage do they increase in a year?

If prices increases at a monthly rate of 2.9%, by what percentage do they increase in a year?
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If prices increases at a monthly rate of 2.9%, by what percentage do they increase in a year?

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User Jesus Erwin Suarez
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I’m guessing 2.9% times 12
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User Iliana
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