Due to inflation, prices have increased 15% since 1995. A fleece jacket costs $88 now. What did the same jacket cost in 1995? Round your answer to the nearest cent
Let x = the price of the jacket in 1995
From 1995 to 2015 is 20 years
x(1.15)^20 = 88
x = 88/1.15^20
x = $5.38
the answer in my book is $76.52 how can this be?
What is the year of the book?
The book has to be from 1996 because a 15% increase from 76.52 is 88. That's 15% in one year.
ok i think i get it...
Content will be erased after question is completed.
Enter the email address associated with your account, and we will email you a link to reset your password.
Forgot your password?