Question
Three years ago the bus fare from Lae to Madang was K60. Now it is K80.
Calculate the average annual rate of inflation for the cost of fares from Lae to Madang over three years.
Calculate the average annual rate of inflation for the cost of fares from Lae to Madang over three years.
Answers
Answer
Use the formula: Inflated value after 'n' years = PR^(n). Where
P is the amount accumulated after 'n' years.
R= 1+r/100
n is the terms or number of years.
P is the amount accumulated after 'n' years.
R= 1+r/100
n is the terms or number of years.
Answer
Use this formula: A=PR^(n), where:
A is the inflated value after 'n' years.
P is the principal.
R = 1+r/100
n is the terms or number of years.
A is the inflated value after 'n' years.
P is the principal.
R = 1+r/100
n is the terms or number of years.
Answer
I think the answer might be 33.3%
Answer
Proof check your answer
Answer
I mean proof check by substituting 25.99% in to the formula A = PR^(n) to find A.
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