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You and your sister went shopping today for jeans. The pair she bought costs $49.95 and is identical to a pair you purchased 2 years

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You and your sister went shopping today for jeans. The pair she bought costs $49.95 and is identical to a pair you purchased 2 years ago for $37.87. (a) Determine the numerical and percentage increase in cost. (b) Determine the annual inflation rate of the cost increase and compare your result to the increase indicated in Figure 1.3 (upper). Enter a rate as xx.x%

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