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

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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(52775) About Me  (Show Source):
You can put this solution on YOUR website!
.

My solution is THIS:


    the rate of inflation = the_cost_of_basket_year_2%2Fthe_cost_of_basket_year_1 = 96.25%2F95.00 = 1.01316   (rounded).    ANSWER


My resulting number is different from yours.

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