Inflation causes things to cost more, and for our money to buy less (hence your grandparents saying "In my day, you could buy a

Question

3 years ago

9

Inflation causes things to cost more, and for our money to buy less (hence your grandparents saying "In my day, you could buy a

cup of coffee for a nickel"). Suppose inflation decreases the value of money by 4% each year. In other words, if you have $1 this year, next year it will only buy you $0.96 worth of stuff. How much will $100 buy you in 25 years?

Mathematics

1 answer:

Dmitrij [34] · Answer 1 · 2022-06-25T10:14:20+03:00

Dmitrij [34]3 years ago

6 0

Answer:

Step-by-step explanation:

$100 (0.96)^{25} =$ around 36.04