document.write( "Question 376392: How do you solve:\r
\n" ); document.write( "\n" ); document.write( "If a fast food meal in 2006 cost $5.89, what is the estimated price in 2015 and 2025 if the inflation rate is 2%?\r
\n" ); document.write( "\n" ); document.write( "Thank you! \n" ); document.write( "

Algebra.Com's Answer #267793 by robertb(5830) $\"\"$ $\"About$

You can put this solution on YOUR website!
It follows the compounded balance formula: $\"B+=+P%281%2Br%2Fn%29%5E%28nt%29\"$ . Here P = 5.89, r = 0.02, n = 1, and t = 9. Then\r
\n" ); document.write( "\n" ); document.write( " $\"B+=+5.89%281%2B0.02%29%5E9+=+5.89%2A1.02%5E9+=+7.04\"$ .\r
\n" ); document.write( "\n" ); document.write( "For t = 19, $\"B+=+5.89%281%2B0.02%29%5E19+=+5.89%2A1.02%5E19+=+8.58\"$ .\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

\n" );