Suppose that inflation in this country is an example of exponential growth. Consider an item that cost $210 in the year 2014. Suppose that the cost for that same item in 2020 had increased to $243. a) What is the rate of inflation as an exponential growth rate? Rate = % per year (Give a percent rounded to at least 3 decimal places} b) If this inflation continues, in what year will the cost of the item reach $290? Give a specific year rounded to at least 1 decimal place. Year =
Suppose that inflation in this country is an example of exponential growth. Consider an item that cost $210 in the year 2014. Suppose that the cost for that same item in 2020 had increased to $243. a) What is the rate of inflation as an exponential growth rate? Rate = % per year (Give a percent rounded to at least 3 decimal places} b) If this inflation continues, in what year will the cost of the item reach $290? Give a specific year rounded to at least 1 decimal place. Year =
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
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Transcribed Image Text:Suppose that inflation in this country is an example of exponential growth. Consider an item that cost $210
in the year 2014. Suppose that the cost for that same item in 2020 had increased to $243.
a) What is the rate of inflation as an exponential growth rate?
Rate =
% per year (Give a percent rounded to at least 3 decimal places}
b) If this inflation continues, in what year will the cost of the item reach $2907 Give a specific year
rounded to at least 1 decimal place.
Year =
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