Posted by: M. Walgenbach | March 21, 2012

How Much Will That Cost Me?

Task #1
I want to test your math skills.  There is an inflation calculator in the Gadget sidebar.  Find it.  Click on it.  Then take the price of anything you know well today and input that amount into the inflation calculator to find out what that house, that gallon of gas, that car, that bike, that outfit would have cost you 5 years ago.  Once you see the price, then I need for you to calculate the percentage of inflation on that particular item.  Once you figure out the percentage, apply that same percentage to the cost of that item today to see how much that same item might cost 5 years from today, say in 2017.  So, let’s say that you want to buy a Toyota Camry that today costs $18,000, find out what it cost 5 years ago.  Then compute the percentage of the difference, then multiply that difference with $18,000 to see how much that same Toyota Camry might cost 5 years from today. 
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