Posted by april on Tuesday, June 29, 2010 at 12:01pm.
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Using the equation S= C(1+r/100)^5, calculate the inflation rate of the current price of a loaf of bread in Thailand priced at 25 baht in five years where S is the inflated cost, r is the inflation rate, and C is the current price of the item.
Country: Thailand
Currency: The Baht
Recent inflation rate: -0.90 percent
Loaf of bread: 25 baht
S= 25baht(1-0.009)^5
S= 25(0.991)^5
S= 25(0.9558)
S= 23.895 baht
With an inflation rate of -0.90 percent, after five years a loaf of bread can be purchased in Thailand for less than 23.895 baht or 23.90 baht if rounded up which is about 1.10 baht less than what it can be bought for now.
Using the equation S= C(1+r/100)^5, calculate the inflation rate of the current price of a loaf of bread in Thailand priced at 25 baht in five years where S is the inflated cost, r is the inflation rate, and C is the current price of the item.
Country: Thailand
Currency: The Baht
Recent inflation rate: -0.90 percent
Loaf of bread: 25 baht
S= 25baht(1-0.009)^5
S= 25(0.991)^5
S= 25(0.9558)
S= 23.895 baht
With an inflation rate of -0.90 percent, after five years a loaf of bread can be purchased in Thailand for less than 23.895 baht or 23.90 baht if rounded up which is about 1.10 baht less than what it can be bought for now.
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