If the inflation rate were 12% each year for six years, hoe much money would I have to make per month to stay even with inflation at the end of the six years. I now earn 1,653 per month.
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If the inflation rate were 12% each year for six years, hoe much money would I have to make per month to stay even with inflation at the end of the six years. I now earn 1,653 per month.
It is not clear from the problem, but if it is compounded continuously, the answer is that you would need to make $3,395.98 each month at the end of that 6 year period to stay even with inflation.
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