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    elem's Avatar
    elem Posts: 3, Reputation: 1
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    #1

    Apr 11, 2008, 11:09 AM
    Inflation rate continues
    A recent article suggested that if you earn $25,000 a year today and the inflation rate continues at 3 percent 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 percent. Confirm that these statements are accurate by finding the geometric mean rate of increase.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Apr 11, 2008, 03:43 PM
    The same guidelines about posting homework that I posted to you on the accounting & finance board count here also.
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