Answers for 16-18

16. Your annual salary 10 years ago was $54,500; it is now $71,500. If the inflation rate over the last 10 years has averaged 4.4% per year, has your salary kept up with inflation? 17. In 1943 a gallon of milk cost $0.62. In 2021, a gallon of milk cost $3.09. What is the average annual rate of increase? 18. If gasoline prices increased over a 35-year period from 45.9 cents per gallon to $5.599 per gallon, what is the average annual rate of increase