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Question 1
29577

Given that the cost of petrol per litre is $1.20 today, what will be the price of petrol per litre be in 10 years time if the average inflation rate is 2.1% per annum?

$1.48

\begin{aligned}
A &=1.20(1+0.021)^{10} \\
&=\$ 1.48
\end{aligned}

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