11. (3pts) Use your table to answer the following: Assume the inflation rate is constant at 3.5% and applied at the beginning of every year. If the price of a box of cereal is $2.49 in 2011, how much will the box of cereal cost in the year 2047? (Hint: what number should you multiply 2.49 to increase it's value by 3.5%?) 12 In compound interest, time is divided into compounding periods. During each period, interest is earned at a certain rate per interest period. For example. if you borrow $1:0100 and the interest rate is Ife per quarter. the interest accumulated after one quarter would be $1901(0.01)-$10, and the total amount of money you would owe back after one quarter would be found by $1,900(1 01ji; after three quarters, $1, 900(1.01 2; and in general, after a quarters $1, 060(1 015 12. (2pts) In the geometric sequence described above, what are o, and et 15. (3pty) Ure your Exel workbook to create a table that represents the sequence Heled a copy of your Excel table to the dropbox on D21. 1 1 {Bets Lise your table to answer the following