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QUESTION
A gallon of milk more or less today costs $3.06. Let’s assume a 1% inflation over the course of 40 years. Assuming annual compounding, what is the cost of the gallon of milk in 40 years?
A gallon of milk more or less today costs $3.06. Let’s assume a 1% inflation over the course of 40 years. Assuming annual compounding, what is the cost of the gallon of milk in 40 years?
