
William W. answered 07/20/21
Experienced Tutor and Retired Engineer
6.11% for the year is the same as 6.11/12 % per month or 611/1200 % per month
To get that average, we add all the months together and divide by 12.
Avg = 611/1200 = [0.25 + 0.86 + 0.93 + 0.31 + 0.83 + 0.53 + (sum of the last 6 months)]/12
Multiply both sides by 12 to get:
(12)(611)/(1200) = [0.25 + 0.86 + 0.93 + 0.31 + 0.83 + 0.53 + (sum of the last 6 months)]
611/100 = 3.71 + (sum of the last 6 months)
6.11 - 3.71 = (sum of the last 6 months)
2.4 = (sum of the last 6 months)
The average for the last 6 months is the sum divided by 6 so:
Avg monthly inflation = 2.4/6 = 0.4%
I see your dilemma. Any other tutors see something I've missed?
Thiago W.
Thank you! What I did was sum 3.71 + all the alternatives times 6. C was the closest (6.14), and D was the second closest (6.236). But the problem is that when I look up a country's yearly inflation rate and sum each month, the number is different. Take Brazil's 2018 inflation rate for example, when I sum everything up, it totals 3.69%, but it says the yearly inflation rate for that year was 3.66% https://www.inflation.eu/en/inflation-rates/brazil/historic-inflation/cpi-inflation-brazil-2018.aspx By logic, the right answer is C (6.14), as it's the closest, but at the same time, I'm not sure, because they don't mention the word "approximately" in the prompt. What do you think, Mr. William W?07/20/21