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Christianj420 Christianj420
  • 07-02-2017
  • Business
Answered

At 4 percent inflation, how much time will it take for prices to double?

six years

nine years

twelve years

eighteen years

Verified Answer :

matt100030789
matt100030789 matt100030789
  • 07-02-2017

is should only take 18 years

Answer Link
andromache andromache
  • 11-03-2020

Answer:

eighteen years

Explanation:

Given that

Inflation rate = 4%

For computing the how much time is required for prices to double we apply the rule for 72 that means the 72 is divided by the inflation rate so that the time period could come

In mathematically

Number of years is

= 72 ÷ 4%

= 18 years

Hence, in the eighteen years, the price is double

Answer Link

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