What is Steve's retention rate for September based on his starting customer count of 120 and ending count of 130?

To calculate Steve's retention rate for September, you need to consider both the starting customer count and any new customers acquired during the month. The retention rate focuses on how many customers from the starting count were retained by the end of the period.

Steve started with 120 customers at the beginning of September and ended with 130 customers. The increase in customers indicates that he gained 10 new customers during the month.

The formula for retention rate is:

[

\text{Retention Rate} = \left( \frac{\text{Ending Customers} - \text{New Customers}}{\text{Starting Customers}} \right) \times 100

]

In this case, the number of new customers is calculated as:

[

\text{New Customers} = \text{Ending Count} - \text{Starting Count} = 130 - 120 = 10

]

Now, substituting the numbers into the retention rate formula gives:

[

\text{Retention Rate} = \left( \frac{130 - 10}{120} \right) \times 100 = \left( \frac{120}{120} \right) \times 100 = 100%

]

Since the calculation