Suppose that inflation causes the value of a dollar to decrease at a rate of 4.5% per year. To use a general exponential model to find the value of the dollar at some future time compared to its present value, what would you set r equal to?
1 answer:
Answer:
Option C. -0.045
Step-by-step explanation:
we know that
The general exponential model to find the value of the dollar at some future time compared to its present value is equal to
where
F is the value of the dollar at some future time
P is the present value
r is the rate of increasing or decreasing in decimal (remember that the equation is general)
t is Number of Time Periods
In this problem
The rate is decreasing
so
r=-4.5%=-4.5/100=-0.045
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Answer:
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Step-by-step explanation:
