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There is a 96% customer retention rate for the third quarter.
Given
Jenny owns a salon.
She had 150 customers at the end of the third quarter, 151 customers at the beginning of the third quarter, and five new customers in the third quarter.
<h3>Customer retention rate</h3>It determines the percentage of customers that the company has retained over a given period.
The customer retention rate is determined by;
Substitute all the values in the formula;
Hence, there is a 96% customer retention rate for the third quarter.
To know more about customer retention rate click the link given below.