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Describe how to find the price of a blender 3 years from now the inflation is constant at 4% and the the blender costs 38$ today
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Describe how to find the price of a blender 3 years from now the inflation is constant at 4% and the the blender costs 38$ today
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Jan 24, 2017
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describe how to find the price of a blender 3 years from now the inflation is constant at 4% and the the blender costs 38$ today
Mathematics
middle-school
Saurabh Thorat
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Saurabh Thorat
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FV = PV / (1 +r)^n
Where FV = Future Value, PV = Present Value, r = inflation rate in %,
n = number of years.
PV = $38, r = 4%, n = 3 years.
FV = 38 / (1 + 4%)^3
= 38 / (1 + 0.04)^3
= 38 / (1.04)^3 = 33.782
Hence the value 3 years from now = $33.78
Kenecaswell
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Jan 29, 2017
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Kenecaswell
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