If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A= P(1-r)", where ris expressed as a decimal. If the inflation rate averages 2.5%, how much will $1,500 purchase in 4 years? ...... In 4 years, $1,500 will purchase $ (Round to the nearest cent as needed.)
If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A= P(1-r)", where ris expressed as a decimal. If the inflation rate averages 2.5%, how much will $1,500 purchase in 4 years? ...... In 4 years, $1,500 will purchase $ (Round to the nearest cent as needed.)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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![If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A= P(1-r)", where r is expressed as a decimal.
If the inflation rate averages 2.5%, how much will $1,500 purchase in 4 years?
In 4 years, $1,500 will purchase $
(Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0e9075b-7256-4c60-9413-d015032a29f3%2F42ac124d-9a71-4180-b992-d239e46b4690%2Fpif8hpn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A= P(1-r)", where r is expressed as a decimal.
If the inflation rate averages 2.5%, how much will $1,500 purchase in 4 years?
In 4 years, $1,500 will purchase $
(Round to the nearest cent as needed.)
![Find the principal needed now to get the given amount; that is, find the present value.
To get $5000 after 1- years at 6% compounded daily
The present value of $5000 is $
(Round to the nearest cent as needed.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc0e9075b-7256-4c60-9413-d015032a29f3%2F42ac124d-9a71-4180-b992-d239e46b4690%2Ff3pws0i_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Find the principal needed now to get the given amount; that is, find the present value.
To get $5000 after 1- years at 6% compounded daily
The present value of $5000 is $
(Round to the nearest cent as needed.)
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