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18 September, 03:34

Elsa lives in Campbell, where the cost of living increases by 5% every year. If Elsa spends $71,000 this year, how much can she expect to spend 14 years from now to maintain the same standard of living?

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  1. 18 September, 03:44
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    71,000 * (1+0.05) ^ (14)

    =140,575
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