Please help with this equation problem.
S=C(1+r/100)^5
To find the inflated cost S, in 5 years, where C is the current price of an item in the country of Afganistan currency which is 7,711.94 which is ($169.40 USD) and the inflated rate is 13% since the year 2007 in Afganistan, So how do I find the approximated inflated cost after 5 years.
your formula is just the standard compound interest formula, so r = 13
S = 7711.94(1 + .13)^5
= 7711.94(1.842435)
= 14208.75