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Assume That the CPI in 2015 Is 115

question 95

Multiple Choice

Assume that the CPI in 2015 is 115.The inflation rate is 1.5% in 2016 and 2.5% in 2017.What is the value of the CPI in 2016 and 2017?


Definitions:

Simple Interest

A method of calculating the interest charge on a loan or financial investment based on the initial principal and a fixed interest rate over time.

Interest Rate

The proportion, typically expressed as a percentage, at which interest is charged on a loan or paid on savings.

Like Terms

Terms that have the same variables raised to the same power, which can be combined by adding or subtracting the coefficients.

Parentheses

Parentheses are symbols used in mathematics to group terms or to indicate the order of operations.

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