Prices are increasing at an annual rate of 8% the first year and 12% the second year.

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Prices are increasing at an annual rate of 8% the first year and 12% the second year. Determine the average inflation rate (f) over these two years.

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Nov 12, 2018 12:29 PM

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Prices are increasing at an annual rate of 8% the first year and 12% the second year.

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Fundamentals of Engineering Economics

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