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10 cards from this deck
General increase in prices of goods/services over time
Same amount buys fewer goods/services than before
Current price × (1 + inflation rate as decimal)
Current price ÷ (1 + inflation rate as decimal)
(Current price - Previous price) ÷ Previous price × 100%
A=P(1+i)nA = P(1 + i)^nA=P(1+i)n
Forwards multiply by (1+rate); backwards divide by (1+rate)
Projected cost
Current cost
0.065
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