Assume that putting on a major life event costs $25,000 now. How much will it cost in ten years, assuming 3% inflation? Also, do you think that a 3% inflation rate for an event in America is justified, or would you use a different figure? (No, I%26#039;m not some student looking for help with my homework: I don%26#039;t have a calculator that can do compound interest.)
$25,000 x 3% compounded plus question about inflation?
$33,598. But there is no way to guess about inflation; that figure may be appropriate -- or not.
$25,000 x 3% compounded plus question about inflation?
25000* 1.03^10
^10 is power
Windows calculator can do powers.
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