Calculate the total budget

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Reference no: EM131400507

Suppose prices changed from one year to the next as shown in columns 3 and 4 of the following table. Fill in the rest of the table to calculate the average inflation rate.

Instructions:

1. Calculate the total budget for this year and last year. Enter to the nearest whole number.

2. Using the formula, ((new price - old price)/old price), calculate the percentage change in price. Include a minus sign (-) if the percentage change in price is falling.

3. Calculate the item weight from last year to the nearest three decimal places.

4. Calculate the inflation impact by multiplying the percentage change in price by the item weight. Round your answer to the nearest two decimal places in percent form. Include a minus sign (-) if the change is negative. Weights are in decimals, not %.

5. Calculate the average inflation rate to two decimal points.

6. All $ values can be to the nearest whole dollar.

Item

Quantity

Unit Price Last Year

Unit Price This Year

Total Last Year

Total This Year

% Change in Price

Last Year Item  Weight  

Inflation Impact

  Coffee

20 pounds

$6 

$8  

$

$

%

%


  Tuition

1 year

 4,000

5,000  

$

$

%

%


  Pizza

150 pizzas

  10 

12  

$

$

%

%


  Cable TV

12 months

30 

36  

$

$

%

%


  Vacation

1 week

250

300  

$

$

%

%


 

 

 

Total Budget

$

$

 

Average inflation: %

 

 

 

 

 

 

 

 

 

Reference no: EM131400507

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