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Eckelberger Products Inc. makes high-speed recorders with high-speed scanning. The small company has been growing at an average rate of 65% per year for the past 4 years. The CEO asked you to convert the past growth rate into a monthly rate for its annual report. If the past growth rate was an effective rate, what was the effective growth rate monthly? The effective growth rate monthly, (in %)

Eckelberger Products Inc. makes high-speed recorders with high-speed scanning. The small company has been growing at an average rate of 65% per year for the past 4 years. The CEO asked you to convert the past growth rate into a monthly rate for its annual report. If the past growth rate was an effective rate, what was the effective growth rate monthly? The effective growth rate monthly, (in %)

Structural Analysis
Structural Analysis
6th Edition
ISBN:9781337630931
Author:KASSIMALI, Aslam.
Publisher:KASSIMALI, Aslam.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Eckelberger Products Inc. makes high-speed recorders with high-speed scanning. The small company has been growing at an average rate of 65% per year for the past 4 years. The CEO asked you to convert the past growth rate into a monthly rate for its annual report. If the past growth rate was an effective rate, what was the effective growth rate monthly? The effective growth rate monthly, (in %) Round off to the nearest two (2) decimal places Add your answer
Transcribed Image Text:Eckelberger Products Inc. makes high-speed recorders with high-speed scanning. The small company has been growing at an average rate of 65% per year for the past 4 years. The CEO asked you to convert the past growth rate into a monthly rate for its annual report. If the past growth rate was an effective rate, what was the effective growth rate monthly? The effective growth rate monthly, (in %) Round off to the nearest two (2) decimal places Add your answer
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