Given the inflation model C(t) = Co(1 + r)' and given that a boat that currently sells for $290,160 sold for $120,900 5 years ago, what has the average annual rate of inflation been for the past 5 years? Round to two decimal places. Answer
Given the inflation model C(t) = Co(1 + r)' and given that a boat that currently sells for $290,160 sold for $120,900 5 years ago, what has the average annual rate of inflation been for the past 5 years? Round to two decimal places. Answer
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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