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Solved: 6972 require the following discussion. The Consumer Price Index (CPI) indicates

College Algebra | 9th Edition | ISBN: 9780321716811 | Authors: Michael Sullivan ISBN: 9780321716811 485

Solution for problem 71 Chapter 6.7

College Algebra | 9th Edition

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College Algebra | 9th Edition | ISBN: 9780321716811 | Authors: Michael Sullivan

College Algebra | 9th Edition

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Problem 71

6972 require the following discussion. The Consumer Price Index (CPI) indicates the relative change in price over time for a fixed basket of goods and services. It is a cost of living index that helps measure the effect of inflation on the cost of goods and services.The CPI uses the base period 19821984 for comparison (the CPI for this period is 100). The CPI for January 2006 was 198.3.This means that $100 in the period 19821984 had the same purchasing power as $198.30 in January 2006. In general, if the rate of inflation averages r per annum over n years, then the CPI index after n years is where is the CPI index at the beginning of the n-year period. Source: U.S. Bureau of Labor Statistics Consumer Price Index If the average annual inflation rate is 3.1%, how long will it take for the CPI index to double? (A doubling of the CPI index means purchasing power is cut in half.)

Step-by-Step Solution:
Step 1 of 3

L8 - 5 1− 4 ex. lim x x2 x→4 4 − x   1 − 4 x x2 x ▯=4 Now let f(x) 4 − x .  2 x =4 What is lim f(x) x→4

Step 2 of 3

Chapter 6.7, Problem 71 is Solved
Step 3 of 3

Textbook: College Algebra
Edition: 9
Author: Michael Sullivan
ISBN: 9780321716811

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Solved: 6972 require the following discussion. The Consumer Price Index (CPI) indicates