the price of a mobile phone was $600 in 2007. The price of a mobile phone is 2019 as increased to $1,100. What is the inflation rate of mobile phones(Round your answer to the nearest hundredth)?
1 answer:
Answer:
0.83
Step-by-step explanation:
The $500 price increase over this 12 year span results in the inflation rate:
$500
---------- = 0.83..., or 0.83 to the nearest hundredth (equivalent to 83%)
$600
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Step-by-step explanation:
I hope this helped!
