Question: The cost of technology-related products tends to decrease over time, unlike the cost of food, which tends to increase, according to the consumer price index.

The cost of technology-related products tends to decrease over time, unlike the cost of food, which tends to increase, according to the consumer price index. a) A graphing calculator sells for $184.99 in 2001. How much would it sell for in 2007 if the rate of decrease is 5.5%? (4 marks) b) The cost of a 4-L bag of milk is $3.69 in 2001. How much would you pay for the milk in 4 years if the expected average increase in the consumer price index for food is 3.2%? (4 marks)

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