Price of a used ford escort has fallen

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Reference no: EM1312225

Q1. Over the past year price inflation has been 10% but the price of a used ford escort has fallen from $6000 to $5000. The real price of a ford escort has fallen by Elucidate how much?

Q2. You open a savings account to save for a new house. Every month you put $100 into a savings account which pays 5% interest compounded monthly. At the end of every year you receive a $500 bonus which you place directly into your "house fund". Elucidate how much is in this account after 5 years?

Reference no: EM1312225

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Price of a used ford escort has fallen : Over the past year price inflation has been 10% but the price of a used ford escort has fallen from $6000 to $5000. The real price of a ford escort has fallen by Elucidate how much.

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