v1 Financial Maths, STD2 F4 2024 HSC 7 MC Four years ago, the price of a laptop was $1,200. Due to inflation, the price increased annually by 3%. What is the price of this laptop now? $1,248.00 $1,349.86 $1,350.61 $1,374.62 Show Answers Only \(C\) Show Worked Solution \(r=3 \%=\dfrac{3}{100}=0.03\) \(FV\) \(=PV(1+r)^n\) \(=1200(1.03)^4\) \(=1350.61\) \(\Rightarrow C\)