SOLUTION: If the rate of inflation is 11.8% per year, how much could a camera that now costs $225 be expected to cost 5 years from now?
Round the nearest dollar.
$
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Question 1069356: If the rate of inflation is 11.8% per year, how much could a camera that now costs $225 be expected to cost 5 years from now?
Round the nearest dollar.
$
Found 2 solutions by addingup, rfer:
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
225(1+0.118)^5 = $393
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
FV=225(1.118)^5
FV=225*1.747
FV=$393
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