The following question has 5 parts (a.-e.), parts d. and e. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. The following table shows a price index base 100 = 2012 in Canada for the four quarters of 1988. Quarter Price Index 1 57.82 2 58.27 3 59.22 4 59.99 Answer the following questions. Enter only the value, without the % sign or any other symbols. a. What is the annualized rate of inflation between the first and the second quarter of 1988? Express your answer in percentage rounded to the nearest first decimal (use the exact formula). b. How do you interpret the index of the first quarter of 1988: The price level is percent lower than that of 2012. c. Suppose the average hourly wage was $25.85 in the fourth quarter of 1988. Calculate the real wage in dollars of 2012. Round your answer to the nearest second decimal. d. The 1964 price index base 100 = 2012 is equal to 12.60 and the annual nominal interest rate between 1964 and 2012 is 9.3% on average. Answer the following questions, expressing your answer in percentage rounded to the nearest first decimal. Use the exact formula. What is the average annual inflation between 1964 and 2012? Correct response: 4.40.1 What is the average annual real interest rate between 1964 and 2012? Use your previous answer rounded to the nearest first decimal. Correct response: 4.70.1 e. Using the inflation computed in the previous question rounded to the nearest first decimal, calculate the average annual real interest rate between 1964 and 2012 using the approximated formula. SectionAttempt 1 of 1