Question

18 If the price of gold decreases at a monthly rate of 3.9%, by what percentage does it decrease in a year? Over the span of a year, prices will decrease by %. (Round to the nearest tenth as needed.)

Answer 1

If the price of gold decreases at a monthly rate of 3.9%, we can calculate the decrease over the span of a year by multiplying the monthly decrease by 12 (months in a year).

3.9% * 12 = 46.8%

3.9% * 12 = 46.8%Therefore, the price of gold will decrease by approximately 46.8% over the span of a year.