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Consider that the inflation rate in the US from 1 9 5 0 until 2 0 2 2 has been equal, in averd 3 .

Consider that the inflation rate in the US from 1950 until 2022 has been equal, in averd 3.6% per year. The price of a gallon of gas in 1950 was US $0.18. What is the present value of those 18 cents? In other words, if one were to invest 18 cents at 3.6% compound yearly in 1950, how much money would they have today? Is it enough to buy a gallon of gas? Explain.
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