SOLUTION: the formula S=C(1+r)^t models inflation, where :
a. C=the value today
b. r=the annual inflation rate
c. S=the inflated value t years from now
use this formula to solve th
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Question 976223: the formula S=C(1+r)^t models inflation, where :
a. C=the value today
b. r=the annual inflation rate
c. S=the inflated value t years from now
use this formula to solve the following problem:
if the inflation rate is 3 percent, how much will a house now worth 510,000 be worth in 5 years?
Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
Given Info:
C = 510000
r = 0.03
t = 5
The house will be worth roughly $591,229.78
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