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What was the annual rate of price increase

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Reference no: EM132900156

Inflation is a general increase in prices and may be measured by the Consumer Price Index. The following are several problems related to price increases.

Problem A. In 1984 the CPI was 100: 30 years later, it was 235. What was the annual rate of inflation?

Problem B. Nancy and Pam both currently earn 100,000. If the annual rate of inflation is 4 percent, how much must each earn after ten years to maintain their purchasing power?

Problem C. Your parents bought a home for 50,000 in 1987 and sold it in 2017 for 250,000. What was the annual rate of price increase over the 30 years?

Reference no: EM132900156

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