### Home > CCA > Chapter 7 > Lesson 7.1.4 > Problem 7-54

7-54.

Jerry says, “I’ve got my money in a great account that compounds interest monthly. The equation* * represents how much money I have at the end of any month.” What is Jerry’s monthly interest rate? Write an equation to represent your total money if you invest

*represent the number of months the money has been invested.*

The monthly interest rate can be found using the multiplier.

Subtract

Change the decimal to a percent:

Make

Monthly Interest Rate: