Question 1041132
If the cumulative inflation rate is 95% over a certain period, then goods sold at the end of that period are 1+.95 times what they were at the beginning. Thus:
8.75=(1+.95)n
n=8.75/1.95
n=$4.49 was the price in 1982 (Too bad you can't go back!!!!) &#9786;&#9786;&#9786;&#9786;