SOLUTION: Is it 1.01325? I want to check my answer. Topic: Financial Mathematics Round your answer to one decimal place, if necessary. A consumer survey conducted in two consecutiv

Question 1179930: Is it 1.01325? I want to check my answer.
Topic: Financial Mathematics
Round your answer to one decimal place, if necessary.
A consumer survey conducted in two consecutive years determined that a fixed basket of goods and services cost $95.00 in year 1 and $96.25 in year 2.
The rate of inflation from year 1 to year 2 is 1.01325%.
he answer is provided in the link here: https://i.imgur.com/PBPWeJe.png

Answer by ikleyn(52776) (Show Source): You can put this solution on YOUR website!
.


My solution is THIS:


    the rate of inflation =  =  = 1.01316   (rounded).    ANSWER


My resulting number is different from yours.

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On inflation, see numerous solved problems in the lesson
- Inflation and Salary problems
in this site.

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