suppose megan is a sports fan ad buys only baseball caps/ egan deposits 3,000in an account nominal intrest rate of 10%. Assume this interest rate is fixed - that is it wont change over time. At the time of her deposit , a baseball cap is price at 15 dollars.

for each annual inflation rate given in the following table, first determina the new price of baseball cap. assuming it rises aqt the rat e of inflation