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Part $1$

A machine cost $$$$2$ comma $550$ on January$1,2014,$ and $$$$3$ comma $900$ on January$1,2018.$ The average inflation rate over these four years was $7\%$ per year. What is the true percentage increase in the cost of the machine from $2014$ to$2018?$

LOADING... Click the icon to view the interest and annuity table for discrete compounding when iequals$7\%$ per year.

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Part $1$

Choose the correct answer below.

A$.$

$16\mathrm{.}68\%$

B$.$

$13\mathrm{.}56\%$

C$.$

$23\mathrm{.}92\%$

D$.$

$52\mathrm{.}94\%$

E$.$

$21\mathrm{.}90\%$