Answer:
the rate of inflation is 2%.
Step-by-step explanation:
given:
Nominal interest rate =3%
Real interest rate=1%
To Find:
Rate of inflation=?
Solution:
Nominal interest rate:
Nominal interest rate refers to the interest rate before taking inflation into account.
Inflation rate:
The inflation rate is the percent increase or decrease in prices during a specified period. It's usually over a month or a year.
Real interest rate:
A real interest rate is an interest rate that has been adjusted to remove the effects of inflation to reflect the real cost of funds to the borrower and the real yield to the lender or to an investor.
Real interest rate ≈ nominal interest rate − inflation rate.
This can be re written as
inflation rate= Real interest rate - nominal interest rate
Substituting the values,
inflation interest = 1+3
inflation interest=4%
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Answer:
The approximate temperature of the pan after it has been away from the heat for 9 minutes is 275.59°F.
Step-by-step explanation:
The formula for D, the difference in temperature between the pan and the room after t minutes is:
Compute the approximate difference in temperature between the pan and the room after 9 minutes as follows:
Then the approximate temperature of the pan after it has been away from the heat for 9 minutes is:
D = P - R
206.59 = P - 69
P = 206.59 + 69
P = 275.59°F
Thus, the approximate temperature of the pan after it has been away from the heat for 9 minutes is 275.59°F.
