SOLUTION: suppose inflation of money is a rate of 3% per year in the united states. how much will a $1 candy bar cost in 30 years?

SOLUTION: suppose inflation of money is a rate of 3% per year in the united states. how much will a $1 candy bar cost in 30 years?

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Question 207980: suppose inflation of money is a rate of 3% per year in the united states. how much will a $1 candy bar cost in 30 years?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=P(1+r)^t
A=1(1+.03)^30
A=1(1.03)^30
A=1(2.43)
A=$2.43
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