Reference no: EM13204330
Using the Library, web resources, and/or other materials, find the most recent report of the annual inflation rate of a country of your choice as well as the type of currency used in that country. The equation S=C(1+r/100)^5 to find the inflated cost S, in 5 years, of an item, good or service, where C is the current price of that item in that country's currency and where the inflation rate is r%. Choose any value of C, the current price of an item in that country's currency, that you would like.
Include in your post the country, the inflation rate, the type of currency, a value of C of your choice, and the calculations needed to find the approximated inflated rate of C after 5 years.
The country St. Kitts and Nevis
Annual Growth rate : 2.1%
Inflation rate : 3.6%
Type of currency : European Currency : EC $2.70 = U S $1.00
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