if a city grows by 12% per month what is the yearly growth rate
We know that there are 12 months in a year.
12% = 0.12
Annual Growth Rate = (1 + Monthly Growth Rate)^12 - 1
Annual Growth Rate = (1 + 0.12)^12 - 1
Annual Growth Rate = (1.12)^12 - 1
Annual Growth Rate = 3.89597599255 - 1
Annual...