The 1970s were years of high inflation in Canada. By the 1990s, inflation rates had fallen, and

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The 1970s were years of high inflation in Canada. By the 1990s, inflation rates had fallen, and have been held to lower levels ever since. Use the Bank of Canada's Inflation Calculator to answer the following questions:

a. Obtain the cumulative percent inflation for each of four decades: 1975 to 1985, 1985 to 1995, 1995 to 2005, and 2005 to 2015.

b. How much money was needed in 1995 to have the same purchasing power as $100 in 1985?

c. How much money was needed in 1975 to have the same purchasing power as $100 in 1985?

d. How much money was needed in 2015 to have the same purchasing power as $100 in 1975?

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