Question 934185: If a car costs $10,000 today, and the CPI calculates an inflation rate of 3% this year, how much will the car cost one year from now? Answer by ptfile(81) (Show Source):
You can put this solution on YOUR website! Inflation Rate = ((Final Value - Initial Value)/Initial Value)(100)
3 = ((Final Value - 10000)/10000)(100)
.03 = (Final Value - 10000)/10000
300 = Final Value - 10000
10300 = Final Value
The car will cost $10,300 on the next year.
