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A population grows by 4.9% each year. By what percentage does it grow each month? (Round your answer to two decimal places.)

 May 9, 2020
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[1 + 0.049]^1/12 =1.049^(1/12) =1.004190 - 1 x 100 =0.42% - This is monthly compound rate.

 May 9, 2020

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