The average annual increase i (in ) of the cost of living over n years is given by i 100 (C 2 C 1 ) 1 n 1 , where C 1 is the cost of living index for the first year and C 2 is the cost of living index for the last year of the period Evaluate i if C 1 237 and C 2 258 are the values for 2015 and 2020, respectively

Question: The average annual increase i (in %) of the cost of living over n years is given by i = 100[(C 2 /C 1 )

The average annual increase i (in %) of the cost of living over n years is given by i = 100[(C₂/C₁)^1/n − 1], where C₁ is the cost of living index for the first year and C₂ is the cost of living index for the last year of the period. Evaluate i if C₁ = 237 and C₂ = 258 are the values for 2015 and 2020, respectively.

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