Growth in Consumer Price Index (CPI) for Food

According to the USDA, the degree of food price inflation varies depending on whether the food was

purchased for consumption away from home or at home. The food-away-from-home (restaurant purchases)

CPI in August 2019 was 3.2 percent higher than August 2018.

If food-away-from-home prices continue to increase 3.2% a year, how long will it take these prices to double?

a.

18 years

b.

22 years

c.

24 years

d.

16 years

e.

20 years