A father is building a playset for his son and needs to purchase lumber, nails, and fabric. When he started planning the project, the necessary lumber cost $450, the nails cost $30, and the fabric cost $80. However, recent economic inflation has caused the price of lumber to increase by 20%, the price of nails to increase by 10%, and the price of fabric to increase by 5%. In dollars, how much more money will it cost to complete the project now (after inflation) than it would have when the father began planning?
Let’s work this out in a step by step way to be sure we have the right answer.
97
First, the initial, pre - inflation, cost of the project was 450 + 30 + 80 = $560.

Then, the price of the lumber increased to 450 * 1.

20 = $540.

Similarly, the price of the nails increased to 30 * 1.

10 = $33.

And the price of the fabric increased to 80 * 1.

05 = $84.

Therefore, the new, post - inflation, cost of the project is 540 + 33 + 84 = $657.

Thus, the cost has increased by 657 - 560 = $97.

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So, the final answer is 97