From 1992 to 1995, a certain country experienced a yearly inflation rate of 255%. Determine the price of 3.62 fast-food meal after 8 years at a 255% inflation rate.

Arendrogfkl

Arendrogfkl

Answered question

2022-11-15

From 1992 to 1995, a certain country experienced a yearly inflation rate of 255%. Determine the price of 3.62 fast-food meal after 8 years at a 255% inflation rate.

Answer & Explanation

luluna81mxmbk

luluna81mxmbk

Beginner2022-11-16Added 17 answers

Given: P = 3.62 t = 8  years r = 255 % = 2.55
Use formula
A = P [ 1 + r % 100 ] A = 3.62 [ 1 + 2.55 ] 8 A = 91313.59
Price of 3.62 fast-food meal after 8 years at a 255% inflation rate
=91313.59

Do you have a similar question?

Recalculate according to your conditions!

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?