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Joined: Jul 2005
Posts: 12,082 Likes: 1
Top 10 Poster
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Top 10 Poster
Joined: Jul 2005
Posts: 12,082 Likes: 1 |
We cant buy as much food today with $12.00 what we could buy for $4.00 in 1980. Add it up any way you want but that's 300% in 30 years.
Tripling of prices (300%) over 31 years corresponds to an average inflation rate of 3.6 % - which seems in line with the numbers I gave earlier. 1.036 raised to the 31 power = 2.99 That's what happens with compounding. Same as in a bank account.... Scott
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