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Problem 1 6 - 0 7 Assume that the rate of inflation is 4 percent and continues indefinitely and that the cost of carrently $

Problem

16 - 07

Assume that the rate of inflation is

4

percent and continues indefinitely and that the cost of carrently $

24, 000 .

How much will that car cost

22

years from today? Round your answer to the nearest dollar.

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