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Last year, the total revenue for Home Style, a national restaurant chain, increased 5.25% over the previous year. If this trend were to continue, which expression could the company's chief financial officer use to approximate their monthly percent increase in revenue

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braza909

Answer:

The monthly increase of revenue is 0.4273%

Explanation:

given annual interest rate=5.25%

There are 12 months in a year

Dividing yearly interest rate to monthly interest rate,the equation will be

[tex](1+i_{a})=(1+i_{m})^{12}[/tex]

As [tex]i_{a}=5.25%[/tex]%

Sove above equation,we will get

Monthly increase in revenue=[tex]i_{a}[/tex]=0.4273%

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