f an item by 1.04. For example, if the cost of a $50 item increases 4 percent, the new cost is 1.04 50 = 52. Use this rate of inflation to determine the following amounts to the nearest hundredth. Round your answer to the nearest cent. Part 1: a. How much will the cost of a $455 washing machine increase by in 1 year due to inflation? 18.2 dollars Part 2: b. How much will the cost of a washing machine increase by in 5 years if the rate of inflation remains at 4 percent? 98.58 dollars Part 3 out of 4 c. Approximately how many years will pass before the cost of the $455 washing machine in part a increases by $200 if the rate of inflation remains at 4 percent? years