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The Price of an Item Increases Due to Inflation p(t)=22.50(1.037)tp(t)=22.50(1.037)^{t} Be the Price of the Item as a Function of p(t)=22.50(1.037)^{t}

Question 94

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The price of an item increases due to inflation. Let p(t)=22.50(1.037)tp(t)=22.50(1.037)^{t} be the price of the item as a function of time in years, with t=0t=0 in 2004. What is the weekly inflation rate? Round to 2 decimal places.

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