A building to be built in 2025 will require the following materials with current unit prices shown for end-of-year 2021. Their expected inflation rates per year for each of the next 3 years are also shown. What is the estimated total future cost of this project in actual dollars in the year 2025 based on inflated prices at the end of year 2024? Hint: The cumulative inflation over 3 years equals (1+f₁)*(1+f2)+(1*f3) a. $35,000 b. $36,000 c. $37,000 d. $38,000 e. $39,000 Material Amount Needed Prices at EOY 2016 Inflation Rates in Each Year 2022 2023 2024

A building to be built in 2025 will require the following materials with current unit prices shown for end-of-year 2021. Their expected inflation rates per year for each of the next 3 years are also shown. What is the estimated total future cost of this project in actual dollars in the year 2025 based on inflated prices at the end of year 2024? Hint: The cumulative inflation over 3 years equals (1+f₁)(1+f2)+(1f3) a. $35,000 b. $36,000 c. $37,000 d. $38,000 e. $39,000 Material Amount Needed Prices at EOY 2016 Inflation Rates in Each Year 2022 2023 2024

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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