Question

The inflation rate of the U.S. Dollar is 2.8%. This means that each year, prices will go up, or increase by 2.8%. If a loaf of bread cost $1.33 nine years ago, what does it cost today?


Select one:


a. $0.89

b. $1.71

c. $2.29

d. $4.23

Answer 1

@TylerD

Answer 2

Cost today = cost nine years ago x (1 + inflation rate) ^ time