Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Discover comprehensive solutions to your questions from a wide network of experts on our user-friendly platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

If the present value of an item is P
and we experience an inflation rate
of r for t years, what will the future
value of the item be?
P = $300,000
r = 7% t = 30
Round your answer to the nearest cent (hundredth).