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Find the annual infiltration rate for the nearest 10th of a percent of a gallon of milk that increases the value from $1.51 to $2.03 over a period of seven years.

User Fazia
by
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1 Answer

7 votes

Answer:

7.429 cents

Explanation:

Given that:

Price change = $1.51 to $2.03

Period of time = 7 years

Therefore, the annual inflation rate :

Difference in price / number of years

($2.03 - $1.51) / 7

$0.52 / 7

= 0.0742857 per year

= 0.0742857 * 100 (about 7.429 cents per year)

User Samo
by
8.1k points

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