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Leona [35]
3 years ago
11

Tom needs a new washing machine. A new one costs $400. He decides to save and buy one next year. All other factors being equal,

if inflation is 4%, the washing machine will cost ______ next year. This should be an even answer with no need for decimals.
Business
1 answer:
TiliK225 [7]3 years ago
8 0

Answer:

$416

Explanation:

Washing Machine price = $400

Inflation Rate = 4%

So, Price Rise = (4/100) x 400

= $16

New Raised Price after Inflation = Old Price + Price rise due to inflation

= 400 + 16

= $416

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