In Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day. At that rate, how much would a $3 loaf of bread cost five days later? Hint: Use the following equation to calculate future price: Future price = current price x inflation rate, where t is the number of days in the future Instructions: Round your response to one decimal place. $ million
In Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day. At that rate, how much would a $3 loaf of bread cost five days later? Hint: Use the following equation to calculate future price: Future price = current price x inflation rate, where t is the number of days in the future Instructions: Round your response to one decimal place. $ million
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 7E
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