Ask Question
BusinessBusiness
Today, 08:32

2009 2010

Limousine $180 $216

Prom Dress $270 $324

According to the table above and assuming that limo rental and prom dress purchase constitute the cost of the prom, the rate of prom inflation from 2009 to 2010 was

A. 10%.

B. 20%.

C. 50%.

D. 66%.

E. 83%.

+5
Answers (1)
  1. Today, 09:09
    0
    To find the inflation rate of prom you want to start by adding the costs of each expense together under its respective year:

    2009:

    Limo = $180

    Dress = $270

    Total = $450

    2019:

    Limo = $216

    Dress = $324

    Total = $540

    Next, find the consumer price increase/inflation. To do this we will take the increase of price from 2009 to 2010 and divide by the price in 2009.

    2010 total: $540 - $450 (2009 total) = $90

    $90/$450 = 0.2 to find the percentage of inflation multiply by 100

    (.02) (100) = 20%

    The rate of prom inflation is 20%.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “2009 2010 Limousine $180 $216 Prom Dress $270 $324 According to the table above and assuming that limo rental and prom dress purchase ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
At the beginning of the year, manufacturing overhead for the year was estimated to be $285,690. At the end of the year, actual direct labor-hours for the year were 30,500 hours, the actual manufacturing overhead for the year was $373,620, and
Answers (1)
XYZ makes and sells bicycle parts. Last year XYZ sold 6,000 handlebars, generating sales of $180,000. This year they are considering a new pricing strategy with a target profit goal of $72,000.
Answers (1)
A bank offers the following certificates of deposit: Nominal annual interest rate Term in years (convertible quarterly) 1 4% 3 5% 5 5.65% The bank does not permit early withdrawal. The certificates mature at the end of the term.
Answers (2)
On January 9, a company pays $6,200 for salaries, of which $1,100 was reported as Salaries and Wages Payable on December 31. Indicate all accounts increased or decreased as well as dollar amounts when payment occurs?
Answers (1)
Which of the following options is important to research when planning to expand delivery of products and services to customers across the globe? A. What times of the day international shoppers are online B.
Answers (1)
New Questions in Business
Congratulations, you just won a "million dollar" jackpot! With the first payment to be received immediately, you will receive $100,000 each year for the next nine years.
Answers (1)
When serving apple slices, its important to have which of the following ingredients on hand? A - Caramel B - Peanut Butter C - Cheese D - Lemon Juice
Answers (2)
Explain why vaccinations and social-distancings in times of the Corona pandemic are both examples of positive externalities.
Answers (2)
Bravo Company purchased equipment on October 1, 2016. Bravo paid $60,000 for equipment and paid an additional $500 for shipping and $200 to place the equipment in service. The equipment is expected to have a $6,000 residual value and a 8-year life.
Answers (1)
We cannot provide any information about your refund. be sure to: verify your filing date; check with your tax preparer if you filed a complete and accurate tax return, your refund should be issued within six weeks of the received date.
Answers (1)
Home » Business » 2009 2010 Limousine $180 $216 Prom Dress $270 $324 According to the table above and assuming that limo rental and prom dress purchase constitute the cost of the prom, the rate of prom inflation from 2009 to 2010 was A. 10%. B. 20%. C. 50%. D. 66%. E.
Sign Up Forgot Password?