What amount will the family need for their living expenses

Reference no: EM131485842

Question: 1. In 2011, selected automobiles had an average cost of $16,000. The average cost of those same automobiles is now $20,000. What was the rate of increase for these automobiles between the two time periods?

2. A family spends $46,000 a year for living expenses. If prices increase 3 percent a year for the next three years, what amount will the family need for their living expenses after three years?

Reference no: EM131485842

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