Inflation rate of 9% per year. Use the approximate double time formula to find what the price is in 11 years if the item costs $100 today.?

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  • 100 * 1.09^11 =>

    ‭258.04264053054077850709‬

    The doubling time approximation is known as the rule of 70.

    11 / (70/9) =>

    99/70 =>

    100/70, roughly =>

    1.42, roughly

    100 * (1 + 1.42) =>

    100 * 2.42 =>

    242

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