SOLUTION: If inflation had been 3% each year from 1997 to 2007, what would the CPI have been in 2007?

Question 1168964: If inflation had been 3% each year from 1997 to 2007, what would the CPI have been in 2007?
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
.


    CPI,  Consumer Price Index


    The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers 
    for a market basket of consumer goods and services.


    See this Internet page

https://www.bls.gov/cpi/#:~:text=The%20Consumer%20Price%20Index%20(CPI,of%20consumer%20goods%20and%20services.

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    The price increase factor due to inflation =  =  = 1.344   (rounded).    


    The CPI is, therefore, 0.344, or 34.4%.        ANSWER

Solved and answered.

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To see many other similar solved problems on inflation, see the lesson
- Inflation and Salary problems
in this site.

Also, you have this free of charge online textbook in ALGEBRA-I in this site
- ALGEBRA-I - YOUR ONLINE TEXTBOOK.

The referred lesson is the part of this online textbook under the topic "Logarithms".

Save the link to this online textbook together with its description

Free of charge online textbook in ALGEBRA-I
https://www.algebra.com/algebra/homework/quadratic/lessons/ALGEBRA-I-YOUR-ONLINE-TEXTBOOK.lesson

to your archive and use it when it is needed.

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