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.) $ 4056.4 If the average cost of a textbook in 2012 was $105, what is the actual inflation rate (rounded to the nearest tenth percent)? 6 X % 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.) $ 4056.4 If the average cost of a textbook in 2012 was $105, what is the actual inflation rate (rounded to the nearest tenth percent)? 6 X % 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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