On January 1, the cost of a product is $50. If inflation for that year is 12 percent, what does the product cost on December 31 of that year?

Name: On January 1, the cost of a product is $50. If inflation for that year is 12 percent, what does the product cost on December 31 of that year?
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The Answer of On January 1, the cost of a product is $50. If inflation for that year is 12 percent, what does the product cost on December 31 of that year?

On January 1, the Cost of a Product Is $50