In Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day. At that rate, how much would a $14 wool blanket cost five days later?

Hint: Use the following equation to calculate future price: Future price = (current price) * (inflation rate)^t where t the number of days
in the future.

Instructions: Round your response to one decimal place.

_million?

Five days later the wool blanket would cost $ 1,400,000.

Given that in Zimbabwe the rate of inflation hit 90 sextillion percent in 2009, with prices increasing tenfold every day, to determine, at that rate, how much would a $ 14 wool blanket cost five days later, the following calculation must be performed:

Future price = (current price) * (inflation rate) ^ number of days

X = 14 x 10 ^ 5

X = 14 x 100,000

X = 1,400,000

Therefore, five days later the wool blanket would cost $ 1,400,000.

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