Use the formula of inflation to find the prime of a movie ticket in 2005 if the inflation rate from 2000 to 2005 was 3.53%

Question

asked Oct 16, 2021 204k views

1 Answer

Rafael Korbas · Answer 1 · 2021-10-20T08:15:53+0000

Answer:

$C = \$\,5.18$

Step-by-step explanation:

Let assume that the movie ticket costed $ 5 in 2000. The formula of inflation rate is:

$(C-\$\,5)/(\$\,5) * 100\,\% = 3.53\,\%$

The cost in 2005 is:

$C = \$\,5.18$