Suppose that inflation in this country is an example of continuous exponential growth. Consider an item that
cost $120 in the year 2016. Suppose that the cost for that same item in 2021 had increased to $155.
a) What is the rate of inflation as an exponential growth rate?
Rate =
% per year (Give a percent rounded to at least 3 decimal places}
b) If this inflation continues, in what year will the cost of the item reach $192? Give a specific year rounded to
at least 1 decimal place.
Year =