With a yearly inflation rate of 3%, prices are described by , where is the price in dollars when t = 0 and t is time in years. If = 1.2, how many cents per year are prices rising when t = 12? Round to the nearest tenth of a cent.

Question

With a yearly inflation rate of 3%, prices are described by  , where  is the price in dollars when t = 0 and t is time in years. If  = 1.2, how many cents per year are prices rising when t = 12? Round to the nearest tenth of a cent.

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The Answer of With a yearly inflation rate of 3%, prices are described by  , where  is the price in dollars when t = 0 and t is time in years. If  = 1.2, how many cents per year are prices rising when t = 12? Round to the nearest tenth of a cent.

With a Yearly Inflation Rate of 3%, Prices Are Described