Answer: the statement made by Tim Cook is TRUE
Step-by-step explanation:
Given that;
in 2007 cost of 1st gen iphone = $499 (base year price)
cost of iphone today = $999 (current year price)
Using the Consumer Price Index
the Consumer Price Index = (cost pf product in current years/cost of product base year) × 100
we substitute
CPI = (999/499) × 100
CPI = 200.2004
so the CPI is 100.2004% higher in the current year than in the base year
Checking the inflation rate
IR = (( CPI this year- CPI last year)/CPI last year) × 100
CPI last year (base year) = 100
CPI current year is = 100.2004
so
IR = (( 100.2004 - 100)/100) × 100
IR = 0.002004 × 100
IR = 0.2004%
THEREFORE the statement made by Tim Cook is TRUE
Answer: ok that’s confusing
Step-by-step explanation:
