Question

The inflation rate of the U.S. Dollar is 2.8%. This means that each year, prices will go up, or increase by 2.8%. If a loaf of bread cost $1.33 nine years ago, what does it cost today?


Select one:


a. $0.89

b. $1.71

c. $2.29

d. $4.23

Answer 1

@Nurali

Answer 2

Cost today = cost nine years ago x (1 + inflation rate) ^ number of years

Answer 3

will that be the answer

Answer 4

No, the equation given to you was \(\large 1.33 \times 1.028^9=x\)

Answer 5

ohhh ok

Answer 6

Solve for x. :)

Answer 7

ok hold on:)

Answer 8

1.70525634?

Answer 9

yep

Answer 10

so that would round up 1.71 B

Answer 11

yep

Answer 12

Very good :)