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-   -   Stats- Geometric Mean Rate of Increase (https://www.askmehelpdesk.com/showthread.php?t=308075)

  • Jan 24, 2009, 04:29 PM
    Kevsters
    Stats- Geometric Mean Rate of Increase
    The question is-

    If you can earn 25,000 a year today and the inflation rate continues at 3% per year, you'll need to make $33,598 in 10 years to have the same buying power. You would need to make $44, 771 if the inflation rate jumped to 6%. Confirm that these statements are accurate by finding the geometric mean rate of increase.

    How do I set these up to solve and what are the correct answers?

    Thanks!
  • Jan 24, 2009, 07:10 PM
    galactus






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