Today, the price of a gallon of milk is $4.25. Assuming the inflation rate is 4.5% per year, what will be the price of a gallon of milk 10 years from now?

Entrepreneurial Finance
6th Edition
ISBN:9781337635653
Author:Leach
Publisher:Leach
Chapter13: Other Financing Alternatives
Section: Chapter Questions
Problem 1bM
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Accounting what will be the price of a gallon of milk 10 years from now?

Today, the price of a gallon of milk is
$4.25. Assuming the inflation rate is
4.5% per year, what will be the price
of a gallon of milk 10 years from
now?
Transcribed Image Text:Today, the price of a gallon of milk is $4.25. Assuming the inflation rate is 4.5% per year, what will be the price of a gallon of milk 10 years from now?
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