Question 1194970: The US inflation rate is steady at 6.1%. If John expects an amount of USD
200,000.00 for his retirement in 2030, calculate the purchasing power of
this amount. Will he be able to buy a house that’s worth about USD
100,000.00 today?
Answer by ikleyn(52775)   (Show Source):
You can put this solution on YOUR website! .
Today is the year 2022.
The cost of the $100,000 home in 2030, 8 years later, will be
 = 160591.69 dollars, accounting for inflation.
You compare it with $200,000, the expected amount, and decide if it will be enough in the year 2030.
Solved.
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On inflation, see numerous solved problems in the lesson
- Inflation and Salary problems
in this site.
They are your TEMPLATES to learn from.
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