Suppose that the inflation rate in country A is 5% and keeps this value. Using the rule of thumb way with 70, answer how many years needed for the price level to be doubled in country A
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Suppose that the inflation rate in country A is 5% and keeps this value. Using the rule of thumb way with 70,
answer how many years needed for the
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- The "Rule of 72" is a reliable guide to the impact of inflation. It is based on dividing 72 by the annual inflation rate to find out the number of years it will take the price of something to double. For example, if you bought an antique chair for $100, and the annual inflation rate is 5 percent, how long would it take for the chair to be worth $200? Using the Rule of 72, divide 72 by 5 and get 14.4. It would take about 14 years for the chair's worth to double. 1. Calculate the values below using the Rule of 72. a. If you bought a house for $150,000 and the annual inflation rate was 4 percent, how long would it take before the house, under good maintenance, would be worth $300,000? b. If you bought a Picasso painting at last week's auction for $200,000 and the annual inflation rate is 10 percent, how long would it take to double your money? c. If you went to the car show and bought a 1965 Mustang in mint condition for $25,000 and the annual inflation rate was 8 percent, when would your…The "Rule of 72" is a reliable guide to the impact of inflation. It is based on dividing 72 by the annual inflation rate to find out the number of years it will take the price of something to double. For example, if you bought an antique chair for $100, and the annual inflation rate is 5 percent, how long would it take for the chair to be worth $200? Using the Rule of 72, divide 72 by 5 and get 14.4. It would take about 14 years for the chair's worth to double. 1. Calculate the values below using the Rule of 72. d. If your grandmother gave you her wedding ring, it was appraised at $1,200, and the annual inflation rate was 6 percent, how many years would it be before it was worth $2,400? e. If you bought an antique lamp for $3,000 and the inflation rate was 3 percent, how many years would it be before your investment doubled in value?Consider a telephone call to London that currently would cost $5. If the real price oftelephone calls does not change in the future, how much will it cost you to make a call to London in 50 years if the inflation rate is 5% (roughly its average over the past 30 years)? What if inflation is 10%.
- If the average inflation rate is 4.5%, how long before prices exactly double?Your parents have given you $2,500 a year before your graduation so that you can take a trip when you graduate. You wisely decide to invest the money in a bank CD that pays 8% interest. You know that the trip costs $2,600 right now and that inflation for the year is predicted to be 3%. Will you have enough money in a year to purchase the trip? Show your calculations.based on the attached inflation data, which country's inflation forecast is improving the most relative to its recent headline inflation? Japan, UK or US