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During periods of hyperinflation, prices increase rapidly over short periods of time. One of the worst cases of hyperinflation in history occurred in Zimbabwe in 2008 where prices doubled every day. If that rate continued for just 7 days, how much would a French baguette cost after 7 days if the cost at the beginning of the week was $0.7

Respuesta :

Answer:

price of good  = $89.6

Explanation:

given data

time t = 7 day

cost at the beginning = $0.7

solution

when here prices doubled each day

so that after t day the price of good will be = p×[tex]2^{t}[/tex]  ....................1

put her value

price of good  = $0.7 × [tex]2^{7}[/tex]  

price of good  = $89.6

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