The rate of inflation in the fictional land of Sardonia is such that the price of a car costing 27 comma 00027,000 dollars in U.S. currency will double in ninenine years. What is the annual rate of inflation? What will be the price of this car in sixsix years?
The rate of inflation in the fictional land of Sardonia is such that the price of a car costing 27 comma 00027,000 dollars in U.S. currency will double in ninenine years. What is the annual rate of inflation? What will be the price of this car in sixsix years?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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Question
The rate of inflation in the fictional land of Sardonia is such that the price of a car costing
27 comma 00027,000
dollars in U.S. currency will double in
ninenine
years. What is the annual rate of inflation? What will be the price of this car in
sixsix
years?
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