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June 2012/question 1

This topic has 7 replies, 3 voices, and was last updated 11 years ago by John Moffat.

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June 3, 2013 at 10:04 pm #128738
mdmkd
Member
- Topics: 13
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Hello,
I would like to ask how to calculate the price with inflation included?
in the first year I have 25 + 4%= 26
i am not sure how the second year price is calculated = 25.96
Thank you
June 3, 2013 at 11:14 pm #128750
mdmkd
Member
- Topics: 13
- Replies: 17
(1.04)^2*24=25.96
I found it…
Sorry for taking your time to read the question
June 4, 2013 at 6:11 am #128780
John Moffat
Keymaster
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No problem 🙂
June 6, 2013 at 12:34 pm #129737
united26
Member
- Topics: 4
- Replies: 8
Why is it not calculated this way in the June 2011 paper?
What is the difference?
Thanks
June 6, 2013 at 1:46 pm #129759
mdmkd
Member
- Topics: 13
- Replies: 17
it is:
5*(1.03)^1=5.15 – first year
5*(1.03)^2=5.3045 or 5.305 – second year
June 6, 2013 at 1:57 pm #129768
mdmkd
Member
- Topics: 13
- Replies: 17
The explanation about the the sign ^ is the following:
if we have let’s say
3*3 I write it down as 3^2
or 3*3*3 as 3^3
June 6, 2013 at 3:02 pm #129820
united26
Member
- Topics: 4
- Replies: 8
Got it now, thanks a mill for your help, appreciate it!
June 6, 2013 at 4:47 pm #129925
John Moffat
Keymaster
- Topics: 57
- Replies: 54478
🙂
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