Answered: 69. Consumer Price Index (a) The CPI… | bartleby

FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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69. Consumer Price Index
(a) The CPI was 163.0 for 1998 and 215.3 for 2008.
Assuming that annual inflation remained constant for
this time period, determine the average annual inflation
rate.
(b) Using the inflation rate from part (a), in what year will
the CPI reach 300?

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