document.write( "Question 1168365: The rate of inflation measures the percentage increase in the price of consumer goods. The rate of inflation in the year 2014 was 2% per year. To get a sense of what this rate would mean in the long run, let's suppose that it persists through 2034.\r
\n" ); document.write( "\n" ); document.write( "What would be the cost in 2015 of an item that costs $300 in 2014? (Round your answer to the nearest cent.)
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Algebra.Com's Answer #792959 by Boreal(15235)\"\" \"About 
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This is 300(1.02)=$306 in 2015, which is what was asked.
\n" ); document.write( "If it is 2035, rather than 2015, then it is 300(1.02)^20=$445.78.
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