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A gallon of gas costs $3.34. Inflation has steadily increased by 1% per year. How much longer will it be until it costs $6?

 Jan 14, 2020
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Price increase 1%/year     .01 in decimal form

 

6  =  3.34 (1+.01)t      where t is in years (the answer to the Q)

 

6/3.34 = 1.01t

 

  t = 58.87 years

 Jan 14, 2020

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