Register
HELP PLZ! The price index for a certain item is at 4% inflation rate. How long will it take for the price to double?
1.6k views
5 votes
HELP PLZ! The price index for a certain item is at 4% inflation rate. How long will it take for the price to double?

User Yogeesh
by
3.9k points

1 Answer

4 votes

Answer:

Time taken to double the price is 17.5 years

Step-by-step explanation:

As per the rule of seventy,

Time taken for a CPI to get double is 70 divided by the rate of inflation

Substituting the given values, we get -

Time taken to double the price is 70/4 = 17.5 years

User Wsdookadr
by
3.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.5m questions

4.5m answers

Other Questions

Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
Andrew doesn’t want to spend a lot of money on student loans, and does not qualify for grants. what is his best option for affording a bachelors degree
The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that
At first Rohan thought it was a good idea to offer a car repair pick-up service at his auto repair shop, but then he realized that most customers called Tow-It-Now Inc. and it would be difficult to match
Link Copied!