Multiple Choice
Inflation is a major concern for economists. Many are predicting higher inflation rate in the coming year. If a loaf of bread cost $1.99 last year and is now $2.25, determine the annual rate of inflation.
A) 13.06%
B) 11.08%
C) 10.28%
D) 9.54%
E) 8.63%
Correct Answer:
Verified
Correct Answer:
Verified
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