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Algebra Word problem

Algebra
Tutor: None Selected Time limit: 1 Day

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

Apr 7th, 2015

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

Apr 7th, 2015

the answer in my book is $76.52 how can this be?

Apr 7th, 2015

What is the year of the book?

Apr 7th, 2015

The book has to be from 1996 because a 15% increase from 76.52 is 88. That's 15% in one year.

Apr 7th, 2015

ok i think i get it...

Apr 7th, 2015

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Apr 7th, 2015
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