91.5k views
1 vote
if their was a 3 percent rate of.inflation in each of the past 3 years products that cost 500 dollers 3 years ago would now cost approximately

User Altro
by
6.4k points

1 Answer

4 votes
At 3% inflation, the $500 product would be $515 the first year, $530.45 the second year, $546.36 the third year.
User Peter Horne
by
5.8k points