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If a chair cost $100 in December 2010 and the price changed in accordance with the inflation table below, how much did the ch

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Answer #1
Price in december 2010 = $100.00
Price in december 2011 = price in december 2010 * (1+ inflation rate in 2011) = $100*(1+0.03) = $103.00
Price in december 2012 = price in december 2011 * (1+ inflation rate in 2012) = $103*(1+0.017) = $104.75
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