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1 point The following expression represents monthly growth. What is the yearly rate of growth? (1.04)^m

1 point The following expression represents monthly growth. What is the yearly rate of growth? (1.04)^m
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1 point The following expression represents monthly growth. What is the yearly rate of growth? (1.04)^m

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User Jana Weschenfelder
by
8.4k points

1 Answer

3 votes

(1.04)^m

m= Months

One year has 12 months_

(1.04)^12 = 1.60

0.60 = yearly rate of growth

answered
User Itsraja
by
8.8k points
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