SOLUTION: if inflation is 8% a year compounded annually, what will it cost in 16 years to buy a house currently valued at 75,000?

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Question 421690: if inflation is 8% a year compounded annually, what will it cost in 16 years to buy a house currently valued at 75,000?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
A=75000(1.08)^16
A=75000*3.425943
A=$256,945.70