### Home > CCAA8 > Chapter 8 Unit 9 > Lesson CCA: 8.2.5 > Problem8-108

8-108.

Over a four month period the price of an ounce of gold steadily increased from $\1000$ to $\1400$. What was the monthly multiplier? What was the monthly percent increase?

First, ask yourself these questions:
What was the initial cost of an ounce of gold? The new price?
How long did it take for the gold to reach the new price?

If $m$ is the monthly multiplier, then $1000(m)(m)(m)(m)=1400$.

The monthly multiplier is $1.088$, and the monthly percent increase is $8.8\%$.