During the worst periods of hyperinflation in a certain country, the price of food increased at a rate of 20% per month. state whether this increase was linear or exponential. if your food bill was $80 in one month during this period, what was it three months later?
Accepted Solution
A:
This is exponential increase.
3 months later the bill is 80 (1.20) ^3 = $ 138.24