Question

If the price of gold decreases at a monthly rate of 2.1% by what percent does it decrease in a year?

Answer 1

We have that each month, the price of gold decreases 2.1%, then, if in a year there are 12 months, we have:

`12\cdot(2.1)=25.2`

thus, in a year, the price of gold decreases 25.2%