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Assume that a gallon of regular gasoline cost $2.69 in January, 2010, and inflation averaged 1.82% per year over the 10 year period until January

Assume that a gallon of regular gasoline cost $2.69 in January, 2010, and inflation averaged 1.82% per year over the 10 year period until January 2020. Calculate the cost for a gallon of gas in 2020, if the cost had increased at the rate of inflation.

  • $2.73

  • $3.22

  • $3.27

  • $2.33

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