Question: Geraldo recently saw a newspaper ad for a new version of his laptop. The projected price is $400.00$400.00, and the laptop will be out on

Geraldo recently saw a newspaper ad for a new version of his laptop. The projected price is $400.00$400.00, and the laptop will be out on the market in about one year. Geraldo wants to purchase a new laptop but is wondering if he should wait a year. With 2.5%2.5% inflation, what amount would he pay to purchase a laptop today that is the same value as the one he saw in the ad?

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