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Inflation causes things to cost more, and for our money to buy less (hence your grandparents saying "In my day, you could buy a cup of coffee for a nickel"). Suppose inflation decreases the value of money by 4% each year. In other words, if you have $1 this year, next year it will only buy you $0.96 worth of stuff. How much will $100 buy you in 10 years?

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60 dollars___________________
pipa
Hello,
The answer is: $46.32 
How comes?: Because due to inflation and given idea of an equation, you would do 100(dollars) multiplied by tex] 0.95^{15} [/tex]
Good-luck! (:

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