The first year Jeff paid for a membership at his gym, the fee was $440.00. He renewed his membership three times; in 2002 for $480.00, in 2004 for $500.00, and again in 2006 for $530.00. What is the overall rate of inflation for Jeff's gym membership? Question 4 options: 6.6% 3.4% 20.45% 16.66%
The first year Jeff paid for a membership at his gym, the fee was $440.00. He renewed his membership three times; in 2002 for $480.00, in 2004 for $500.00, and again in 2006 for $530.00. What is the overall rate of inflation for Jeff's gym membership? Question 4 options: 6.6% 3.4% 20.45% 16.66%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The first year Jeff paid for a membership at his gym, the fee was $440.00. He renewed his membership three times; in 2002 for $480.00, in 2004 for $500.00, and again in 2006 for $530.00. What is the overall rate of inflation for Jeff's gym membership?
Question 4 options:
|
6.6% |
|
3.4% |
|
20.45% |
|
16.66% |
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