A population of lizards decreases exponentially at a rate of 12.5% per year.
What is the equivalent monthly rate to the nearest hundredth of a percent?
Responses
0.20%
0.20%
1.04%
1.04%
1.11%
1.11%
1.23%
To find the monthly rate, we need to divide the annual rate by 12 since there are 12 months in a year.
The equivalent monthly rate is 12.5% / 12 = 1.04%.
Therefore, the answer is 1.04%.