Homework Help: Finance

Posted by Barry on Friday, November 7, 2008 at 10:40am.

I dont have a formula for this question:

Purchasing Power= 1280.08 (Nov.1/07)
Purchasing Power= 1000.00 (Nov.1/97)

What is the annual rate of inflation?

I think it can be solved 1280.08/1000 -1 but Im not sure??

No one has answered this question yet.

Answer this Question

Related Questions

economics - Suppose Caroline is a cinephile and buys only movie tickets. ...
math - Please someone show me how to work this one out? Suppose Caroline is a ...
math..urgent pleasehelp :( - the purchasing power (in dollars) of an annual ...
consumer math - The graph represents the purchasing power if the inflation is 12...
math - If your annual income from a part-time job is $4523, and the inflation ...
Math - If your annual income from a part-time job is $2,698, and the inflation ...
Economics - If CPI was 108 in 1985 and 130 in 1990 (base year 1982-1984 = 100) -...
math - Which of the following salaries will have a purchasing power of $24,035 ...
economics - which of the following statements about inflation are true? check ...
math - Bart had an income of $38,250 last year. If the inflation rate is 4.5%, ...

For Further Reading

First Name:
School Subject:
Answer: