1. The problem statement, all variables and given/known data During 1988 Nicaragua's inflation rate averaged 1.3% perd day. This means that on average, prices went up by 1.3 percent from one day to the next. By what percentage did Nicaraguan prices increase in June of 1988? What was Nicaragua's annual inflation rate during 1988? 2. Relevant equations I don't understand how to solve this. I know that I need to somehow create a function (I think an exponential function). How would I go about solving this? 3. The attempt at a solution What I did was figured out how many days from Jan 1, 1988 to May 31, 1988, which is 151. Then I tried to plug that into an exponential format, like this: P = b(.013)^151 I think that's the wrong direction, and is as far as I got.