The following information was obtained from the Bureau of Labor Statistics Web site:

annual

Year avg. CPI-U

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1968 34.8

1974 49.3

1983 99.6

2006 201.6

2008 215.303

Consumer prices approximately doubled between 1974 and 1983 -- 1983's CPI value is about double that of 1974's CPI, meaning that something that would've cost about 49 cents in 1974 (the Golden Age of Rock 'n' Roll!) cost about $1 in 1983.

What was the average annual compound rate of inflation (compound annual growth rate in prices) during this period? Explain the answer in a grammatically-correct sentence(s).

Please explain to me the steps to use a financial calculator to solve for i using the compound growth formula FV=PV x (1+i)^n to solve this problem. I don't understand how to flip the equation around for i.