The 1970s were years of high inflation in Canada. By the 1990s, inflation rates were reduced to and held at lower levels. Go to Connect and select the site for Fundamentals of Business Mathematics. In the navigation bar, select "Chapter 3" in the drop-down box. Select "Links in Textbook" and then click on the link named "Inflation Calculator."
a) Obtain the cumulative percent inflation for each of four decades: 1972 to 1982, 1982 to 1992, 1992 to 2002, and 2002 to 2012.
b) How much money was needed in 1992 to have the same purchasing power as $100 in 1982?
c) How much money was needed in 1972 to have the same purchasing power as $100 in 1982?
d) How much money was needed in 2012 to have the same purchasing power as $100 in 1972?

Question

Quizplus · Accepted Answer

The Answer of The 1970s were years of high inflation in Canada. By the 1990s, inflation rates were reduced to and held at lower levels. Go to Connect and select the site for Fundamentals of Business Mathematics. In the navigation bar, select "Chapter 3" in the drop-down box. Select "Links in Textbook" and then click on the link named "Inflation Calculator."
a) Obtain the cumulative percent inflation for each of four decades: 1972 to 1982, 1982 to 1992, 1992 to 2002, and 2002 to 2012.
b) How much money was needed in 1992 to have the same purchasing power as $100 in 1982?
c) How much money was needed in 1972 to have the same purchasing power as $100 in 1982?
d) How much money was needed in 2012 to have the same purchasing power as $100 in 1972?

The 1970s Were Years of High Inflation in Canada