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Calculate the cost.

A smartphone costs $1,000 at 6% inflation per year, what will the cost in 10 years be.
SteelHands · 61-69, M
You are doing inflation wrong. If the price of a loaf of bread and the price of a washing machine stayed the same over the last century washing machines would cost thousands of dollars. If the price of a soft drink went up as much as cigaretts then soft drinks would cost a hundred dollars a six pack.

The reason for this is that in highly advanced systems some products become closer to necessities. Some products need to advertise and compete. Some are working with or fighting against a rising market share.

A big one is status symbol value that with a thing like a car or a phone, dies out over the years when cost to reliabiity dominates the pricepoints. And were almost already there.

Product liabiity aspects and government legalistic intrusions into both mode of manufacture and feature safety requirements. Then there are also sudden shifts in personal behaviors that open new avenues of competition. In other words, first there was the wash machine. Then came laundrys and dry cleaners. Then came self serve laundromats, permanent press fabrics, and wring free spin cycles.

And limited demand or use access. This is true of almost every comoddity. I can still buy a horse saddle or buggy whip or boat anchor for a cost that only accounts for the contemporary numerical money figures but infation has no bearing on the cost of a cumberbun or a debutante tiarra.

Tools, and in particuar communication tools, will always level off in price and then eventually a company will find a way to corner most of the market by reducing price far far below expected and historical ones. These phones are no longer markers of status any longer.
ABCDEF7 · M

A = final amount
P = initial principal balance
r = interest rate(decimal)
n = number of times interest applied per time period(say a year)
t = number of time periods(years) elapsed

A = 1000(1+0.06/1)^10

After rounding off..
A = 1790.85
DeWayfarer · 61-69, M
Worthless! Can't even sell some of my old cellphones on a cellphone sites.

They aren't even listed. Like a Samsung Galaxy SII is totally worthless.

Motorola G Force I is worth $10 USA. This is only 6 years old. Works just fine! Even the battery is ok.

Note: in ten years cellphones might not even be called cellphones or even smart phones. And could be called anything. Personal assistant comes to mind. Few even know what that was.

Some day they will have a device that projects live 3d video. What would you call that? 🤷🏻‍♂️

Definitely can't call it a cellphone or smartphone. So again a "smartphone" would be worthless in ten years.
Zeusdelight · 61-69, M
About $1800 with no account for technologial imporvements oir increased profit margin:)
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LikeTheSun · 22-25, F
@MalteseFalconPunch how'd you get your answer?
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LikeTheSun · 22-25, F
@MalteseFalconPunch ah I see. Ty ❤️
BeachGirl47 · 26-30, F
All I know is I've seen some for around $50 or $60 at Walmart.
Adstar · 56-60, M
1) $1000
2)$1060
3) $1123.6
4)$1191: 016
5)$1262:47696
6)$ 1338:2255776
7)$ 1418: 519112256
8)$1503:63025899136
9)$1593:848074530842
10)$1689: 478959002692

In the 10th year the phone will cost you rounded to the nearest cent.. [c=7700B2][u][big]$1689 . 48 [/big][/u][/c]

The total cost over the 10 year period will equal to the nearest cent..[c=7700B2][u][big]$13248.22[/big][/u][/c]
nedkelly · 61-69, M
$150 if very lucky 🍀
With slight adjustment in phrasing, what is inflation without the smartphone? Subtract that $1000 from the cost of living.... and where are you?
Either trick question or an idiot wrote it, because it'll depreciate
LikeTheSun · 22-25, F
@BeefySenpie stupid question yes but an answer is needed. 😔
@LikeTheSun Then 1000 X 1.06^10
smileylovesgaming · 31-35, F
The same phone maybe $100 dollar's in 10 year's
SW-User
Over priced like they are now
Azlotto · M
For me, $0...I don't have an activated smartphone.
SW-User
No reception on the black side of town
LikeTheSun · 22-25, F
@SW-User ...?
Lilnonames · F
I heard others post that and nuno said no way take a screen shot and show him he will reply
LikeTheSun · 22-25, F
@Lilnonames I'm not sure I follow.
Lilnonames · F
@LikeTheSun I know u don't I posted on wrong post lol🤭
AdaXI · 41-45, T
@Lilnonames Haha! If I had a a dollar for everytime I'd done that, like you start typing something out on a post and it carries onto the next post, sometimes I don't even know how the hell I managed it, but I have, lolz.😅
乂^◡^乂
empanadas · 31-35, M
1600

 
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