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8. Fifteen years ago your annual salary was $27,600; it is now $46,200. The inflation rate over the last 15 years has averaged 3.5% per

Fifteen years ago your annual salary was $27,600; it is now $46,200. The inflation rate over the last 15 years has averaged 3.5% per year. At what average annual rate has your salary increased?

a.		3.49%
b.		167%
c.		67%
d.		11%

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