Inflation is a general increase in prices and may be measured by the Consumer Price Index (CPI). Use Appendix A to answer the questions. In Year 1 the CPI was 100; 25 years later, it was 225. What was the annual rate of inflation? Round your answer to the nearest whole number. % Nancy and Pam both currently earn $110,000. If the annual rate of inflation is 4 percent, how much must each earn after eleven years to maintain their purchasing power? Round your answer to the nearest dollar.$ Your parents bought a home for $50,000 in Year 1 and sold it in Year 31 for $280,000. What was the annual rate of price increase over the 30 years? Round your answer to the nearest whole number. %
Inflation is a general increase in prices and may be measured by the
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In Year 1 the CPI was 100; 25 years later, it was 225. What was the annual rate of inflation? Round your answer to the nearest whole number.
% -
Nancy and Pam both currently earn $110,000. If the annual rate of inflation is 4 percent, how much must each earn after eleven years to maintain their
purchasing power ? Round your answer to the nearest dollar.
$ -
Your parents bought a home for $50,000 in Year 1 and sold it in Year 31 for $280,000. What was the annual rate of price increase over the 30 years? Round your answer to the nearest whole number.
%
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