Gold has recently hit record high prices. When adjusted for inflation, gold remains below a 1980 peak
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Gold has recently hit record high prices. When adjusted for inflation, gold remains below a 1980 peak price of $850 per troy ounce. Suppose this 1980 price equates to $2,400 per ounce in 2014 dollars. Based on the prices of gold in 1980 and 2014, what was the compounded annual rate of inflation over this time interval?
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Related Book For 
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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