Cost of living is the amount required to purchase a certain fixed list of goods and services in one year. It is supposed to be subject to exponential growth. The growth rate is known as the inflation rate. If the cost of living rises from $ 10,000 to $ 11,000 in one year (a net increase of 10%), what is the instantaneous rate of increase in the cost of living in one year? Rta. 9.53% per year.

Cost of living is the amount required to purchase a certain fixed list of goods and services in one year. It is supposed to be subject to exponential growth. The growth rate is known as the inflation rate. If the cost of living rises from $ 10,000 to $ 11,000 in one year (a net increase of 10%), what is the instantaneous rate of increase in the cost of living in one year? Rta. 9.53% per year.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter7: Exponents And Exponential Functions

Section7.8: Transforming Exponential Expressions

Problem 18PFA

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