Today is pi day. In celebration of pi day, I am endeavoring to brush up on some math.
So, here’s a word problem:
If inflation adjusted incomes go up from 63K to 64k over a 5-year period where cumulative inflation was 8.7%, what is the increase in nominal incomes over that same period:
A) 1.6%
B) -7.1%
C) > 10%
D) Prices are inversely proportional to rates because of stealth inventory.
