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Math Help - Newtopia inflation runs at 15 %

  1. #1
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    Newtopia inflation runs at 15 %

    In Newtopia, inflation runs at 15%. A home entertainment unit currently sells for $2000.
    a) How much would you expect it to cost in a year’s time?
    b) How much would expect it to cost in two year’s time?

    i got

    a) 15/ 100 x 2000 = 300 2000= 300 = $2300
    b) 2300 x 2 yrs = $4600
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  2. #2
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    Wow that inflation rate is really big!

    Consider this. Inflataion is usually an annual unit so therefore

    After 1 year: 1.15\times 2000 = 2300

    After 2 years: 1.15\times 2300 = \dots

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  3. #3
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    yes i do got $2645 as answer
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