If Melinda Miller estimates that her 100 weekly grocery bill will increase at an annual inflation rate of 4%

Bill after three years = $112.5

Explanation:

The value of grocery bill = 100

The rate by which the bill grows = 4%

Now we have two values that are present value and the inflation rate. We are required to find out the total amount of grocery bill after 3 years. So, use the below formula to find the estimated amount after three years.

Bill after three years = 100 × (1+4%)^3

Bill after three years = $112.5

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