Forty years ago the price of a new volkswagen was 5000, Microeconomics

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Forty years ago the price of a new volkswagen was 5000

Forty years ago, the price of a new Volkswagen was $5,000. (Actual price adjusted to simplify the calculation). The price of a new Volkswagen is $25,000 today. Basing your answer solely on the aforementioned prices, by what percent have prices increased over the past forty years? (Show your work). What average annual inflation rate would have resulted in this answer?

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Microeconomics: Forty years ago the price of a new volkswagen was 5000

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Microeconomics: Forty years ago the price of a new volkswagen was 5000

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