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If prices increase at a monthly rate of 10, 000 ​%, by what percentage do they increase in a​ year? In a​ day? (Assume 30 days per​ month.) The annual inflation rate is about ______ times 10 ^_______​%.

​(Type whole​ numbers.)

 Dec 6, 2017
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Is it really 10,000% per month? If it is, then we have:

[1 + 10,000/100]^12 =[1 + 100]^12 =101^12 - 1 x 100 =1.13 x 10^26% per year !!!!!

 

[1 + 10,000/100]^(1/30) =101^(1/30) =1.1663 - 1 x 100 =16.63% per day  !!!!!.

So that: [1 + 0.1663]^360 =1.13 x 10^24  x  100 =1.13 x 10^26% per year !!!!!.

Note: I used 360 days because we took a month to be 30 days x 12 =360 days.

 Dec 7, 2017

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