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1. How long will it take a 1,000 IQD bottle of Pepsi to cost 5,000 IQD, to the nearest year, if on average the annual

1. How long will it take a 1,000 IQD bottle of Pepsi to cost 5,000 IQD, to the nearest year, if on average the annual inflation rate is 7%? Use the method we did in class.

2. Shorsh put a 5,000 IQD note in a jar every month for 10 years, then put the money in the bank for another 10 years at 6 % interest compounded semiannually. How much does he have now?

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