Suppose the inflation rate is 7% per year. How much would a $24 pair of sneakers cost in 8 years? Estimate your answer to 2 places after the decimal. Tine your answer

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asked Apr 8, 2022 167k views

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Suppose the inflation rate is 7% per year. How much would a $24 pair of

sneakers cost in 8 years? Estimate your answer to 2 places after the decimal.
Tine your answer

Mathematics
high-school

Marcus Ilgner asked

by Marcus Ilgner

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1 Answer

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7% of $24.00 is $1.68.
$1.68 x 8 = $13.44
$13.44 + $24.00 = $37.44

$37.44 would be how much they cost in 8 years

Niks answered Apr 11, 2022

by Niks

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