If the average rate of inflation over that 70-year period, Business Economics

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If the average rate of inflation over that 70-year period

In the 1920 Sears Roebuck catalog, an oak chest of drawers costs $8 plus freight. In 1990 this same chest of drawers, in good condition, is $1200. If the average rate of inflation over that 70-year period was 3%, what was the average yearly rate of appreciation, adjusted for inflation?

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Business Economics: If the average rate of inflation over that 70-year period

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