An item presently costs P 2,000. If inflation is at the rate of 8% per year, what will be the cost of the item in two years?

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)
5th Edition
ISBN:9781305084766
Author:Saeed Moaveni
Publisher:Saeed Moaveni
Chapter18: Mathematics In Engineering
Section: Chapter Questions
Problem 42P
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An item presently costs P 2,000. If inflation is at the rate of 8% per year, what will|
be the cost of the item in two years?
P 1166.40
P 1714.68
P 857.34
P 2332.80
Transcribed Image Text:An item presently costs P 2,000. If inflation is at the rate of 8% per year, what will| be the cost of the item in two years? P 1166.40 P 1714.68 P 857.34 P 2332.80
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