Between 2005 and 2010
,
the average rate of inflation was about 4.7
%
per year. if a cart of groceries cost $130

in 2005, what did it cost in 2010
?
a cart of groceries cost approximately $nothing

in 2010
.
(round to two decimal places as needed.)

A cart of groceries that costed US$ 130 in 2005, costs US$ 163.56 in 2010 at an average rate of 4.7% of inflation.

Step-by-step explanation:

1. Let's review the data given to us for solving the question:

Cost of cart of groceries in 2005 = US$ 130

Period of inflation analysis = 5 years

Inflation average rate = 4.7 % compounded annually

2. Let's find the future value of the cost of a cart of groceries in 2010, using the following formula:

FV = PV * (1 + i) ⁿ

PV = Cost of cart of groceries in 2005 = US$ 130

number of periods (n) = 5 (Period of inflation analysis = 5 years)

Inflation average rate (i) = 4.7% = 0.047

Replacing with the real values, we have:

FV = 130 * (1 + 0.047) ⁵

FV = 130 * (1.047) ⁵

FV = 130 * 1.258152858

FV = 163.56 (Rounding to two decimal places)

typically if you want , you would actually put questions here for us to you. but hey, that's just me. maybe someone will magically answer the questions for you without knowing what they are.

dont know

step-by-step explanation: