Answered: A newspaper reports that in the last 8…

A newspaper reports that in the last 8 years, prices have increased a total of 45%. This is equivalent to what annual inflation rate, compounded annually?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A newspaper reports that in the last 8 years, prices have increased a total of 45%. This is equivalent to what annual inflation rate, compounded annually?

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