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An Example of Inflation A good example of an exponential function is the mathema

May 1, 2024

An Example of Inflation
A good example of an exponential function is the mathematical model for inflation. Simply put, inflation is an increase in the overall price of all goods and services in our economy.
d = c(1+r)t
d = inflated price, c = current price, r = annual inflation rate, t = time in years.
POST 1: INITIAL RESPONSE
Start a new conversation about changes to prices of goods/services over time as it relates to inflation. Does the past inflation rate inform us today?
Select a good/service of interest to you and a date sometime in the past (at least 25 years ago). Research, via the Internet, the price of your selected good/service at that time and the inflation rate at that time. Share the good/service, the past date, its past price and past inflation rate. (Cite all URLs that you referenced.)
Based on this past info, determine what the inflated price would be today. (See Inflation Rate Formula in Unit 9 LiveBinder.) Share your calculated inflated price.
Provide some explanation between any differences in prices between the past, the calculated inflated price for today and the actual price today.
Were there any significant events happening in the world that might contribute to a higher or lower inflation rate?
Was there a high/low demand for the good/service at that time?
Is there a high/low demand for the good/service today?
Justify your explanation with numeric evidence.

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