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Naddika [18.5K]
3 years ago
6

Today a typical family of four spends $897.20/ month for food. If inflation occurs at the rate of 3%/ year over the next 6 years

, how much should the typical family of four expect to spend for food 6 years from now?
Mathematics
1 answer:
mezya [45]3 years ago
6 0

Answer:

  1071.30 per month

Step-by-step explanation:

The multiplier each year is 1 + .03 = 1.03. After 6 years, the cost has been multiplied by that factor 6 times, so has been multiplied by 1.03⁶ ≈ 1.194052.

  $897.20 × 1.194052 ≈ $1071.30

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The answer is:

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Note: I have attached a picture for better understanding.

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