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Sagot :
Answer:
Step-by-step explanation:
If you have $2250 as against an inflation rate of 2% every year, this then means that after the first year, the value of your money becomes
2250 * 2% =
2250 * 0.02 = 45
2250 - 45 = $2205
At the end second year
$2205 * 2% =
$2205 * 0.02 = 44.1
$2205 - 44.1 = 2160.9
At end of the third year
$2160.9 - 2% =
$2160.9 * 0.02 = 43.218
$2117.682
And so on, and so forth
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