Question

As inflation increases, the value of the dollar decreases at the same rate. The value of the dollar after t months of inflation can be found by raising the difference of 1 and the rate of inflation, r, to the power of t. If the current rate of inflation is 4%, what will the value of the dollar, d, be after 8 months? Round to the nearest cent.
$0.72
$0.77
$0.69
$0.75
@shinalcantara

Answer 1

\[.96^8\] i guess