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When anders took out his first two-year membership with maxima gym in 2004, the fee was $540.00. he renewed his membership three times; in 2006 for $580.00, in 2008, for $600.00, and again in 2010, for $630.00. what is the overall rate of inflation for anders' gym membership?

Respuesta :

joccalub

Answer: 16.67%

When Anders took out his first membership with maxima gym in 2004, the fee was only $540.00 for two years. He renewed it three times; in 2006, 2008 and 2010  for $580.00, $600.00, and  $630.00 respectively.

From 2004 to 2010, the price of gym membership rose from $540 to $630. The amount of increase is (630-540) or 90. The percentage increase or overall rate of inflation is 90/540 or 16.67%

Parrain

Based on the cost of the gym membership over the years, the overall rate of inflation would be 16.67%.

What was the overall rate of inflation?

This refers to the change in price from the first year in question to the latest year of 2010.

The rate of inflation is:

= (Cost of membership in 2010 - Cost in 2004) / Cost in 2004 x 100%

Solving gives:

= (630 - 540) / 540 x 10

= 90 / 540 x 100%
= 16.67%

Find out more on inflation at https://brainly.com/question/1082634.

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