Question
year average monthly rent average month income CPI 1978 308 1255 65.2 1988 568 2269 118.3 1998 765 3240 163.0 2008. $1081 $ 4192 215.3
| year | average monthly rent | average month income | CPI | |
| 1978 | 308 | 1255 | 65.2 | |
| 1988 | 568 | 2269 | 118.3 | |
| 1998 | 765 | 3240 | 163.0 |
2008. $1081 $ 4192 215.3
| 2018. | $1419. | $5114 | 251.2 |
USE THE TABLE ABOVE
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What was the inflation rate from 1978 to 2018? Round to the nearest tenth of a percent.
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What percent did rent increase from 1978 to 2018? Round to the nearest tenth of a percent.
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Convert the average monthly rent in 1988 to 2018 dollars. Round to the nearest cent. Did rent rise more or less than expected with inflation from 1988 to 2018?
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Convert the average monthly income in 1988 to 2018 dollars. Round to the nearest cent. Did income rise more or less than expected with inflation from 1988 to 2018?
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Financial Accounting
Authors: Pauline Weetman
8th Edition
129224447X, 9781292244471
