If the price of gold decreases at a monthly rate of 2.2%, by what percentage does it decrease in a year?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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If the price of gold decreases at a monthly rate of 2.2%, by what percentage does it decrease in a year?

 

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