In 1982 the inflation rate hit 16%. Suppose that the average cost of a textbook in 1982 was $15. What was the expected cost in the year 2017 if we project this rate of inflation on the cost? (Assume continuous compounding. Round your answer to the nearest cent.) If the average cost of a textbook in 2012 was $105, what is the actual inflation rate (rounded to the nearest tenth percent)? % Need Help? Read It
In 1982 the inflation rate hit 16%. Suppose that the average cost of a textbook in 1982 was $15. What was the expected cost in the year 2017 if we project this rate of inflation on the cost? (Assume continuous compounding. Round your answer to the nearest cent.) If the average cost of a textbook in 2012 was $105, what is the actual inflation rate (rounded to the nearest tenth percent)? % Need Help? Read It
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section7.7: Writing Exponential Functions
Problem 31HP
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