This calculator helps you estimate the future cost of an item or service based on a given inflation rate. Inflation erodes the purchasing power of money over time, meaning prices generally increase. This tool allows you to project how much a current price might rise in the future.
function calculateFuturePrice() {
var currentPrice = parseFloat(document.getElementById("currentPrice").value);
var annualInflationRate = parseFloat(document.getElementById("annualInflationRate").value);
var years = parseInt(document.getElementById("years").value);
var resultDiv = document.getElementById("result");
if (isNaN(currentPrice) || isNaN(annualInflationRate) || isNaN(years) || currentPrice < 0 || annualInflationRate < 0 || years < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for all fields.";
return;
}
// Formula for future price with inflation:
// Future Price = Current Price * (1 + (Annual Inflation Rate / 100))^Years
var inflationFactor = Math.pow(1 + (annualInflationRate / 100), years);
var futurePrice = currentPrice * inflationFactor;
resultDiv.innerHTML = "