SOLUTION: what will be the price of a $20,000.00 car in 5 years if the inflation rate is 6%?
DO I use this formula to solve: F=P(1+r/n)nt
I=(20,000)(0.06)(60)=7200.00
7200+20000
=272
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Question 1053856: what will be the price of a $20,000.00 car in 5 years if the inflation rate is 6%?
DO I use this formula to solve: F=P(1+r/n)nt
I=(20,000)(0.06)(60)=7200.00
7200+20000
=27200.00
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
what will be the price of a $20,000.00 car in 5 years if the inflation rate is 6%?
DO I use this formula to solve: F=P(1+r/n)nt
I=(20,000)(0.06)(60)=7200.00
7200+20000
=27200.00
-------------------------
P(5) = 20,000*(1.06)^5 = $26,764.51
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Cheers,
Stan H.
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