4. The average price of gasoline was given P77.50 per liter. We computed the average annual rate of increase in the price of gasoline to be 8.90%. If we assume that the price of gasoline will continue to inflate at this rate, how long will it be before we are paying P100.00 per liter?

4. The average price of gasoline was given P77.50 per liter. We computed the average annual rate of increase in the price of gasoline to be 8.90%. If we assume that the price of gasoline will continue to inflate at this rate, how long will it be before we are paying P100.00 per liter?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. The average price of gasoline was given P77.50 per liter. We computed the average annual
rate of increase in the price of gasoline to be 8.90%. If we assume that the price of gasoline
will continue to inflate at this rate, how long will it be before we are paying P100.00 per
liter?

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