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ch4aika [34]
2 years ago
15

If the cpi was 240 in year 1 and 245.1 in year 2, what is the inflation rate between year 1 and year 2?

Business
1 answer:
Ulleksa [173]2 years ago
6 0

The inflation rate between years 1 and 2 is 2.13%

What is CPI?

CPI means consumer price index, the consumer price index measures the change in prices of a basket of  goods and services from one period to another, like the change in prices or inflation rate  from one year to another year.

The inflation rate can be expressed in the current year CPI divided by the prior year CPI as shown by the CPI formula shown below:

inflation rate=(CPI year 2/CPI year 1)-1

CPI year 2=245.1

CPI year 1=240

inflation rate=(245.1/240)-1

inflation rate=2.13%

The implication of the above computation is that the inflation rate between year 1 and year 2 is approximately 2.13% when  rounded to 2 decimal places.

In other words, the prices of goods and services has increase by 2.13% on the average between the two years

Read more on CPI on:brainly.com/question/11397263

#SPJ1

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Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.March 1 - Bills are sent to clien
emmasim [6.3K]

Answer: Please find answers in explanation column

Explanation:

Journal entry for Nexium & Associates

1.Journal to  record Services provided in February.

Date              Account                      Debit                           Credit

March 1      Accounts receivable       $800

               Service revenue                                                    $800

 2.Journal to record purchase of furniture and supplies on account.

March 9      Office furniture         $1,060

               Office supplies             $160

          Accounts payable                                                          $1,220

3.Journal  To record payment made to suppliers, Corner Office Inc.

March 15      Accounts payable          $1,220

                          Cash                                                                  $1,220

4.Journal To record the bill of electricity for  march which is not yet due to be paid till April.

March 23       Electricity expense        $430

           Outstanding Liabilities                                                     $430

5.Journal To record the salary payment to employees.

March 31       Salaries expense                 $850

              Cash                                                                              $850

3 0
3 years ago
A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the
Marianna [84]

Answer:

Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400

Explanation:

The journal entry is given below:

Insurance expense ($4800 × 1 ÷ 12) $400  

       Prepaid Insurance  $400

(To record insurance expense)

Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets

4 0
3 years ago
The web organizes information by using _____, meaning documents that include embedded references to audio, text, images, video,
Whitepunk [10]

The web organizes information by using hypermedia, meaning documents that include embedded references to audio, text, images, video, or other documents.The term hypermedia comes from the tem hypertext, which is text displayed on a computer display . Hypermedia is more than a text It is everything that we see, hear, and interact with on the Web (data, text, graphics, video, and audio).

3 0
3 years ago
Joshua borrowed $500 on January 1, 2017, and paid $25 in interest. The bank charged him a service charge of $15. He paid it all
Elena-2011 [213]

Answer: 8%

Explanation:

The Annual Percentage Rate or APR for short is calculated by dividing the finance cost by the total amount borrowed in the following manner,

APR = Finance Charge / Amount borrowed.

To calculate the Finance charge we add the interest and the service charge.

Finance charge = 25 + 15

= $40

Back to the APR formula we will have,

APR = Finance Charge / Amount borrowed

APR = 40/500

= 0.08

APR is 8%.

3 0
3 years ago
According to the PMQ Pizza Magazine, an estimate of pizza sales in the United States for the top 100 pizza companies was $44.3 b
shusha [124]

Answer:

PMQ Pizza Magazine

Estimate of Pizza Sales in the United States for top 100 pizza companies

a. Computation of the sales per franchise unit:

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845

Pizza Hut                           16,336       12,034              0.737

Little Caesars Pizza            5365        4,000              0.746

Papa John's International   5071        3,695              0.729

California Pizza Kitchen       260           840              3.231

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

Explanation:

a) Data and Calculations:

Total estimated sales in 2018 = $44.3 billion

Top 5 Companies Total gross sales in $ millions.

Name of company              Units          Sales      Sales per Franchise unit

Domino's                           14,490       12,252           $0.845 (12,252/14,590)

Pizza Hut                           16,336       12,034              0.737 (12,034/16,336)

Little Caesars Pizza           5,365        4,000              0.746 (4,000/5,365)

Papa John's International  5,071        3,695              0.729 (3,695/5,071)

California Pizza Kitchen       260           840              3.231 (840/260)

b. Frequency distribution based on total sales:

Frequency               Sales ($ millions)

O up to 1750                      840

1750 up to 3500                    0

3500 up to 5250           7,695

5250 up to 7000                  0

7000 up to 8750                  0

8750 up to 10500                0

10500 up to 12250     12,034

12250 up to 14000     12,252

Total sales                 32,821

c. Frequency distribution of companies based on per unit sales:

Frequency Per unit sales ($ millions)

0.0 up to 0.5               0

0.5 up to 1                    4

1 up to 1.5                     0

1.5 up to 2                     0

2 up to 2.5                   0

2.5 up to 3                    0

3 up to 3.5                    1

3.5 up to 4                   0

Total                          5

7 0
3 years ago
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