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Math Help - inflation

  1. #1
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    inflation

    Hi everyone,
    I cant figure out this equation:

    i have to find the rate of inflation using these numbers and formula.

    in 1980: 82.4 1981: 90.9
    (90.9-82.4)/82.4=

    For a 3% rate of inflation per year from 2003 on What would the consumer price index be in 2006?

    I have to use a table with these dates:
    2001: 177.1
    2002: 179.9
    2003: 184.0
    2004: 189.5
    2005 (est) 195.0
    2006 (est) 200.5

    Please I really stink at these things!!!
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  2. #2
    GAMMA Mathematics
    colby2152's Avatar
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    Quote Originally Posted by crazykitty View Post
    For a 3% rate of inflation per year from 2003 on What would the consumer price index be in 2006?

    I have to use a table with these dates:
    2001: 177.1
    2002: 179.9
    2003: 184.0
    2004: 189.5
    2005 (est) 195.0
    2006 (est) 200.5

    Please I really stink at these things!!!
    You have three years from 2003, and all you need is the 2003 data.

    A_{2006}=184(1.03)^3
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  3. #3
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    Thankyou

    Thank you so much!!!
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  4. #4
    GAMMA Mathematics
    colby2152's Avatar
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    Quote Originally Posted by crazykitty View Post
    Thank you so much!!!
    You are welcome crazykitty!
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