Adjusting for Inflation If P is the price of an item
Chapter 6, Problem 6.1.679(choose chapter or problem)
Adjusting for Inflation If P is the price of an item today, the price of the same item n years from today, Pn, is Pn = P(1 + r) n , where r is the constant rate of inflation. Determine the price of a movie ticket 10 years from today if the price today is $8.00 and the annual rate of inflation is constant at 3%.
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