Assume general inflation is 2.5% per year. What is the price tag in 8 years for an item that has an inflation rate of 4.5% that costs $700 today? Please show every step and formula, don't use excel. The answer should be $1203, thank you.
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Assume general inflation is 2.5% per year. What is the price tag in 8 years for an item that has an inflation rate of 4.5% that costs $700 today?
Please show every step and formula, don't use excel. The answer should be $1203, thank you.
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- An electronic device cost $1250 in 2011. If inflation has averaged 2% each year, what is the price of the device in 2018?An economist has predicted 2% inflation during the next 10 years. How much will an item that presently sells for $100 cost in 10 years?An economist has predicted that for the next 5 years, the U.S. will have a 2.5% annual inflation rate, followed by 5 years at a 3.5% inflation rate. This is equivalent to what average price change per year for the entire 10-year period?
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