Question
The current inflation rate in the U.S. is 8.6% per year. The current price of a gallon of gas in Atlanta is $3.15 per gallon.
The current inflation rate in the U.S. is 8.6% per year. The current price of a gallon of gas in Atlanta is $3.15 per gallon. If the price of gasoline increases at 8.6% per year for the next 8 years, what is the projected price of a gallon of gasoline exactly 8 years from today (i.e., in 2030)?
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Introduction To Finance Financial Management And Investment Management
Authors: Pamela P. Drake, Frank J. Fabozzi, Francesco A. Fabozzi
1st Edition
9811239657, 978-9811239656
