Homework Answers
The formula for inflation is = (Year1-Year0)/Yearo)*100
|
Year |
Cost |
Inflation |
|
0 |
504000 |
|
|
1 |
538000 |
= ((538000-504000)/504000)*100 = 6.75% |
|
2 |
577000 |
= ((577000-538000)/538000)*100 = 7.25% |
|
3 |
629000 |
= ((629000-577000)/577000)*100 = 9.01% |
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