Question 1192826
Inflation IS CAUSING roughly 2% increase per year,...


The price of $4.75 in five years,
{{{4.75(1.02)^5}}}
{{{highlight(5.24)}}}


The price for five years ago, we are not given the rate of inflation from the past. That for "WAS", but that rate was not given.   The question probably is expected to work like   {{{p(1.02)^5=4.75}}}
{{{p=4.75/1.02^5}}}

{{{p=4.30}}}