An automobile that cost Php975,500 in 2004 has an equivalent model four years later in 2008 that cost$1,112,500. If inflation is considered the cause of the increase, what was the average annual rate of inflation?
An automobile that cost Php975,500 in 2004 has an equivalent model four years later in 2008 that cost$1,112,500. If inflation is considered the cause of the increase, what was the average annual rate of inflation?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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