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Easy math question?

How do I figure out this: If health care costs have risen by 2.5% every year since 1960, what total percent have they risen to up to 2014?

Hopefully that isnt to confusing, and tell me if I'm missing any data and I will try and add it in.

1 Answer

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  • ?
    Lv 7
    7 years ago

    first with the "back of the envelope"

    rule of 72...

    costs double every 72/2.5 = 28.8 years

    54 years between 1960 and 2014.

    costs have nearly twice.

    <4x

    more precisely.

    1.025 ^ 54 and now you need a calculator...

    3.79

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