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7) Hyperinflation is driving up the prices at the rate of 20% per month. For an Item that costs $500 today, what be the prices

7) Hyperinflation is driving up the prices at the rate of 20% per month. For an Item that costs $500 today, what be the prices in three months? (8 Points) Is this situation Linear or Exponential? (2 points)

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