The 1970s were years of high inflation in Canada. By the 1990s, inflation rates were reduced to

Question:

The 1970s were years of high inflation in Canada. By the 1990s, inflation rates were reduced to and held at lower levels. Go to the textbook’s Web site to find the Bank of Canada’s “Inflation Calculator.”
a. Obtain the cumulative percent inflation for each of four decades: December 1970 to December 1980, December 1980 to December 1990, December 1990 to December 2000, and December 2000 to December 2010.
b. HowmuchmoneywasneededinDecemberof1990tohavethesamepurchasing power as $100 in December of 1980?
c. How much money was needed in December of 1970 to have the same purchasing power as $100 in December of 1980?
d. HowmuchmoneywasneededinDecemberof2010tohavethesamepurchasing power as $100 in December of 1970?

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