You were recently looking at the historical pries paid for homes in a neighborhood that you are
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You were recently looking at the historical pries paid for homes in a neighborhood that you are interested in. The data that you found, average price paid, is given below. Calculate on a year-to-year basis how home prices in this neighborhood have inflated (a-e in the table below). (f) What is your estimate of the inflation rate for this year?
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Average Home Price Inflation Rate for That Year Year 5 years ago 4 years ago 3 years ago 2 years ago last year this year $165,000 167,000 172,000 180,000 183,000 190,000 (b (f, see below)
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See the table below for a through e Ave Inflation Year Price for year 5 years ago 1650000 ...View the full answer
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