# Geometric mean

Not what you're looking for? Search our solutions OR ask your own Custom question.

A recent article suggested that if you earn $25,000 a year today and the inflation rate continues at 3 percent per year, you'll need to make $33,598 in 10 years to have the same buying power. You would need to make $44,771 if the inflation rate jumped to 6 percent. Confirm that these statements are accurate by finding the geometric mean rate of increase.

Â© BrainMass Inc. brainmass.com March 4, 2021, 8:15 pm ad1c9bdddfhttps://brainmass.com/statistics/quantative-analysis-of-data/geometric-mean-155107

#### Solution Summary

Calculation of geometric mean is discussed in the answer.

$2.49