An earth-filled dam of the U.S. Department of Reclamation cost $850,000 to build in 1965. In 2010, it is in mint condition and worth about $5 million. At what annual interest rate has the value of the dam increased?

An earth-filled dam of the U.S. Department of Reclamation cost $850,000 to build in 1965. In 2010, it is in mint condition and worth about $5 million. At what annual interest rate has the value of the dam increased?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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