Multiple Choice
The rate of inflation measures the percentage increase in the price of consumer goods. The rate of inflation from the year 2005 to 2007 was 5%. Suppose that this rate persisted through 2015. What would be the cost in 2015 of an item that costs $100 in 2005?
A) $127.63
B) $135.89
C) $149.63
D) $162.89
Correct Answer:
Verified
Correct Answer:
Verified
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