Question

If a 3D printer increased in cost at exactly the inflation rate, what was the inflation rate if the printer costs exactly twice as much now as it did 10 years ago?

Answer 1

7.18% per year

Step-by-step explanation:

Calculation for the inflation rate

Using this formula

Inflation rate =1(1 + f)^10 =2

Inflation rate = (1 + f) =2^0.1

Inflation rate=( 1.0718f-1)*100

Inflation rate = 0.0718 *100

Inflation rate=7.18%

Therefore the inflation rate will be 7.18% per year