Inflation

Once upon a time, the tsar owned a money printer and printed and printed. Printing money prices went up in the first year 2.7 %, in the second 2.1%, in the third 3.6%, and in the fourth 5.4%.

Then tsar failed in the election.

Calculate the average annual inflation rate (price increase percentage) during these four years.

Correct answer:

i =  3.4 %

Step-by-step explanation:

r1=100%+2.7%=1+1002.7=1.027 r2=100%+2.1%=1+1002.1=1.021 r3=100%+3.6%=1+1003.6=1.036 r4=100%+5.4%=1+1005.4=1.054  r=r1 r2 r3 r4=1.027 1.021 1.036 1.0541.145 r0=r1/4=41.1451.0344  i=100 (r01)=100 (1.03441)=3.4%



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