Today, a round-trip plane ticket from Los Angeles to New York costs $300. If the average...

Today, a round-trip plane ticket from Los Angeles to New York costs $300. If the average annual inflation rate is 1.5%, who much will the ticket cost 20 years from now?

N= I/Y= PV= PMT= FV=

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Expert Solution

N = 20

I/Y = 1.5%

PV = $300

PMT = 0

FV = $404.06

jeff jeffy answered 2 years ago

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