Forty years ago, the price of a new volkswagen

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Forty years ago, the price of a new Volkswagen was $5,000. (Actual price adjusted to simplify the calculation). The price of a new Volkswagen is $25,000 today. Basing your answer solely on the aforementioned prices, by what percent have prices increased over the past forty years? (Show your work). What average annual inflation rate would have resulted in this answer?

Reference no: EM13839002

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Forty years ago, the price of a new volkswagen : Forty years ago, the price of a new Volkswagen was $5,000. (Actual price adjusted to simplify the calculation). The price of a new Volkswagen is $25,000 today. Basing your answer solely on the aforementioned prices, by what percent have prices increa..

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