The following table shows a utility company's cost to supply a fixed amount of power to a new housing development; the indices are specific to the utility industry. Assume that year O is the base period. Determine the specific inflation for each period and calculate the average inflation rate over the three-year period. Year Cost $504,000 1 $538,400 $577,000 $629,500 2 3 The inflation rate between year 0 and year 1 is %. (Round to two decimal places.) The inflation rate between year 1 and year 2 is %. (Round to two decimal places.) The inflation rate between year 2 and year 3 is %. (Round to two decimal places.) The average inflation rate over the three-year period is %. (Round to two decimal places.)

The following table shows a utility company's cost to supply a fixed amount of power to a new housing development; the indices are specific to the utility industry. Assume that year O is the base period. Determine the specific inflation for each period and calculate the average inflation rate over the three-year period. Year Cost $504,000 1 $538,400 $577,000 $629,500 2 3 The inflation rate between year 0 and year 1 is %. (Round to two decimal places.) The inflation rate between year 1 and year 2 is %. (Round to two decimal places.) The inflation rate between year 2 and year 3 is %. (Round to two decimal places.) The average inflation rate over the three-year period is %. (Round to two decimal places.)

Np Ms Office 365/Excel 2016 I Ntermed

1st Edition

ISBN:9781337508841

Author:Carey

Publisher:Carey

Chapter8: Working With Advanced Functions

Section: Chapter Questions

Problem 7RA

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