Approximate the Number Using a Calculator $9 \%$ Monthly If There Are 160 Rabbits in July, Find How

question 241

Multiple Choice

Approximate the number using a calculator. Round your answer to three decimal places.
-The rabbit population in a forest area grows at the rate of $9 \%$ monthly. If there are 160 rabbits in July, find how many rabbits (rounded to the nearest whole number) should be expected by next July. Use $y = 160 ( 2.7 ) ^ { 0.09 t }$

• A) 468
• B) 467
• C) 481
• D) 455

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Definitions:

Real Exchange Rate

The rate at which a person can trade the goods and services of one country for the goods and services of another, adjusted for inflation.

Purchasing-power Parity

a theory that in the long run, exchange rates ought to adjust so that an identical good in different countries will have the same price when expressed in a common currency.

Nominal Exchange Rate

The rate at which one country's currency can be exchanged for another country's currency without adjusting for inflation.

Price Level

represents the average of current prices across the entire spectrum of goods and services produced in the economy.