The CPI as of December 2003 was 184. The rate of inflation (piπ) for 2004 (as...

Question

Question

The CPI as of December 2003 was 184.

The rate of inflation (piπ) for 2004 (as shown in the diagram to theright) is 2.652.65%.

What is the value of the CPI in2004?

The CPI2004 is

business economics

Answer 1

Answer #1

The CPI in 2004 = 184 + (184 * 0.0265) = 184 + 4.9 = 188.9 [We can round it as 189]

Answer 2

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The CPI as of December 2003 was 184. The rate of inflation ​(piπ​) for 2004​ (as...