The current gasoline price is $4.15, and it is projected to increase next year by 5%, and 8% the following year, and -3% the third year. What is the average inﬂation rate for the projected gasoline price for the next 3 years?

Mr. Dubey • 52.30K Points
Coach

Q. The current gasoline price is $4.15, and it is projected to increase next year by 5%, and 8% the following year, and -3% the third year. What is the average inﬂation rate for the projected gasoline price for the next 3 years?

(A) 3.23%

(B) 3.33%

(D) 3.00%

Correct : Option (A)

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Q. The current gasoline price is $4.15, and it is projected to increase next year by 5%, and 8% the following year, and -3% the third year. What is the average inﬂation rate for the projected gasoline price for the next 3 years?

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