An economist has predicted that there will be a 7 percent per year inflation of prices during

Question:

An economist has predicted that there will be a 7 percent per year inflation of prices during the next 10 years. If this prediction proves to be correct, an item that presently sells for $\$ 10$ will sell for what price in 10 years?

a. $\$ 5.08$

b. $\$ 10.70$

c. $\$ 17.00$

d. $\$ 19.67$

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