The formula S=C(1+r) can be used to calculate how many

Last updated: 7/17/2022

The formula S=C(1+r) can be used to calculate how many years, t, it will take the price of a loaf of bread to increase from C dollars to S dollars with an annual inflation rate of r, written as a decimal. How many years will it take the price of a loaf of bread to increase from $2.30 to $3.15 with an annual inflation rate of 3% ? Round your answer to the nearest tenth of a year.