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A car that costs $20,300 today would have cost $ 2 years ago.

A car that costs $20,300 today would have cost $ 2 years ago.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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If inflation has been running at 3.98% per year and a new car costs $20,300 today, what would it have cost 2 years ago? A car that costs $20,300 today would have cost $ 2 years ago. (Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:If inflation has been running at 3.98% per year and a new car costs $20,300 today, what would it have cost 2 years ago? A car that costs $20,300 today would have cost $ 2 years ago. (Do not round until the final answer. Then round to the nearest cent as needed.)
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