Math Problem Statement

You will use the CPI Calculator to solve the following problems. You can also open the CPI calculator in a pop up window. When using the CPI, you may want to start with $1000. Remember to set both months to January.

Find the inflation rate for the decade from 1990 to 2000. Round your answers to 2 decimal places. Find the inflation rate for the decade from 2000 to 2010. Round your answers to 2 decimal places. Use the CPI calculator to find the overall inflation rate from 1990 to 2010. Round your answers to 2 decimal places. Add the percentages you found on (a) and (b). Round your answers to 2 decimal places.

Solution

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Math Problem Analysis

Mathematical Concepts

Inflation
Percentage Calculation
Consumer Price Index (CPI)

Formulas

Inflation rate = ((CPI in final year / CPI in initial year) - 1) * 100

Theorems

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Suitable Grade Level

High School, Grades 10-12