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In 1982 the inflation rate hit 16%. Suppose that the average cost of a textbook in 1982 was $20. What was the expected cost in

In 1982 the inflation rate hit 16%. Suppose that the average cost of a textbook in 1982 was $20. What was the expected cost in the year 2017 if we project this rate of inflation on the cost? (Assume continuous compounding. Round your answer to the nearest cent.) $ If the average cost of a textbook in 2012 was $180, what is the actual inflation rate?

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