ME
Graw
Hil
IIIIIIIII
6 of 50 Concepts completed
(i)

Fill in the Blank Question

Tom needs a new washing machine. A new one costs . He decides to save and buy one next year. All other factors being equal, if inflation is , the weshing machine will cost $ next year. This should be an even answer with no need for decimals.

Ask by Higgins Chan. in the United States

Jan 22,2025

Question

ME
Graw
Hil
IIIIIIIII
6 of 50 Concepts completed
(i)

Fill in the Blank Question

Tom needs a new washing machine. A new one costs . He decides to save and buy one next year. All other factors being equal, if inflation is , the weshing machine will cost $ next year. This should be an even answer with no need for decimals.

Ask by Higgins Chan. in the United States

Jan 22,2025

UpStudy AI · Accepted Answer

To calculate the cost of the washing machine next year with a 4% inflation rate:

1. **Current Price:** \$400
2. **Inflation Rate:** 4% of \$400 = \$16
3. **Next Year's Price:** \$400 + \$16 = **\$416**

**Answer:** \$416
The washing machine will cost \$416 next year.