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If a bicycle costs $170 today, a razor scooter costs $30 today, and a bike helmet...

If a bicycle costs $170 today, a razor scooter costs $30 today, and a bike helmet costs $20 today, assuming inflation of prices will be at a rate of 11% per year for the next 13 years, how much will the sum of the predicted cost for the bicycle, razor scooter, and bike helmet be in 13 years?

Please give all steps. Thank you!!!

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Answer #1
Cost Today After 13 years Calculation
Bicycle 170 660.16 =170*(1+11/100)^(13)
Razor Scooter 30 116.50 =30*(1+11/100)^(13)
Bike Helmet 20 77.67 =20*(1+11/100)^(13)
Total 220 854.32

The formula is C*(1+i)^(n), where C is the current cost, i is the rate of inflation and n is the no of years.

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