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Today, a typical family of four spends $760/month for food. If inflation occurs at the rate of 3%/year over the next 7 years, how much

Today, a typical family of four spends $760/month for food. If inflation occurs at the rate of 3%/year over the next 7 years, how much should the typical family of four expect to spend for food 7 years from now? (Round your answer to the nearest cent.)

$ (________) per month?

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