Solution-General price inflation rates for the past five

General price inflation rates for the past five years

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Reference no: EM131737093

Inspection equipment costs $2,000 now. The general price inflation rates for the past five years have been 2%, 3%, 4%, 3%, and 4%. What is the real $ cost of the item now (to nearest dollar)?

Suggestion: Use P/F in succession for each year with the F being the previous P

Reasoning/Work:

Reference no: EM131737093

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General price inflation rates for the past five years : The general price inflation rates for the past five years have been 2%, 3%, 4%, 3%, and 4%. What is the real $ cost of the item now (to nearest dollar)?

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General price inflation rates for the past five years

Reference no: EM131737093

Reference no: EM131737093

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