If a 3D printer increased in cost at exactly the inflation rate, what was the inflation rate if the printer costs exactly twice as much now as it did 10 years ago?
What will be an ideal response?
Cost will double in 10 years when the value of the money has decreased by exactly one half. From Eq. [14.3]
1(1 + f)ยน? = 2
(1 + f) = 2^0.1
= 1.0718
f = 0.0718 (7.18% per year)
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