hen Anders took out his first two-year membership with Maxima Gym in 2004, the fee was $540.00. He renewed his membership three times; in 2006 for $580.00, in 2008, for $600.00, and again in 2010, for $630.00. Calculate the overall rate of inflation for Anders' gym membership.
hen Anders took out his first two-year membership with Maxima Gym in 2004, the fee was $540.00. He renewed his membership three times; in 2006 for $580.00, in 2008, for $600.00, and again in 2010, for $630.00. Calculate the overall rate of inflation for Anders' gym membership.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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When Anders took out his first two-year membership with Maxima Gym in 2004, the fee was $540.00. He renewed his membership three times; in 2006 for $580.00, in 2008, for $600.00, and again in 2010, for $630.00. Calculate the overall rate of inflation for Anders' gym membership.
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