During 1989, Nicaragua's inflation rate averaged 1.3% a day. This means that on average, prices went up by about 1.3% from one day to the next. (Note: Due to the nature of this problem, the percentages will be quite large.)
(a) By what percentage did Nicaraguan prices increase in August of 1989 (from August 1 through August 31)?
**Notice that it doesn't say how many days this really is, depending on the point of view, this could 30-32 days.
Tags: