Home > INT1 > Chapter 8 > Lesson 8.2.3 > Problem 8-119
8-119.
Over a four-month period the price of an ounce of gold increased exponentially from $
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
The monthly multiplier is