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As S=C(1+r/100)^5 to find the inflated cost S, in ...

as S=C(1+r/100)^5 to find the inflated cost S, in 5 years, of an item, good or service, where C is the current price of that item in that country's currency and where the inflation rate is r%. Choose any value of C, the current price of an item in that country’s currency, that you would like.

Include in your post the country, the inflation rate, the type of currency, a value of C of your choice, and the calculations needed to find the approximated inflated rate of C after 5 years.

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Answers

Currently, inflation in the UK is at the historically low rate of 1. 09%

An M.o.T. test can be found for £50.

S = 50 (1.0109)^5 = £52.79

Regards Ian

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