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 six days later? Hint: Use the following equation to calculate future price: Future price = current price x inflation ratetinflation rate to the power of t, where t is the number of days in the future

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 six days later? Hint: Use the following equation to calculate future price: Future price = current price x inflation ratetinflation rate to the power of t, where t is the number of days in the future

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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