SOLUTION: You purchase a lawn tractor for $3750 and one year later you notice that the cost has increased to $3900. Determine the inflation rate for the tractor.

SOLUTION: You purchase a lawn tractor for $3750 and one year later you notice that the cost has increased to $3900. Determine the inflation rate for the tractor.

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Question 348558: You purchase a lawn tractor for $3750 and one year later you notice that the cost has increased to $3900. Determine the inflation rate for the tractor.
Answer by nyc_function(2741) (Show Source): You can put this solution on YOUR website!
(new-old)/old

(3900-3750)/3750

150/3750

15/375

0.04

4%

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