jrkeithgroves11 jrkeithgroves11

29-03-2020
Mathematics

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A bank account grows by 8% each year. By what percent does it grow each month

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MystaryPi MystaryPi

29-03-2020

Answer: Grows by 0.667% each month.

Step-by-step explanation:

There are 12 months in a year.

[tex]\frac{0.08}{12} = 0.00667[/tex]

Grows by 0.667% each month.

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