A gallon of ice cream costs $3.28. If grocery prices are going up at the rate of 4% per year, how much will the ice cream cost in 12 years

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 5EB: A grocery store is considering the purchase of a new refrigeration unit with an Initial Investment...
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A gallon of ice cream costs $3.28. If grocery prices are going up at the rate of 4% per year, how much will the ice cream cost in 12 years? a) $5.16 b) $4.85 c) $5.87 d) $5.25
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