SOLUTION: Can someone explain me how to calculate this. Thank you
If money loses​ value, then as time​ passes, it takes more dollars to buy the same item. Use the table to ans
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Question 1099258: Can someone explain me how to calculate this. Thank you
If money loses value, then as time passes, it takes more dollars to buy the same item. Use the table to answer the questions. Let t be years and y be the value of $ in t years..
t: 1, 2, 3, 4, 5, 6,
y: 0.98, 0.96, 0.94, 0.92, 0.90, 0.89
a) Suppose a house cost $103.000 today. Estimate the cost of the same house in 6 years?
b) Estimate a cost of $40 textbook in 2 years?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
In 6 years, every dollar will be worth 0.89 cents.
Today: 103000/1 = 103000
but...
in 6 years: 103000/0.89 = 115730.34
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