Construction equipment has a cost today of $40,000. If its cost has increased by only the inflation rate of 6% per year when the market interest rate has been 10% per year, what was its cost 10 years ago? Given: F = $40,000 n = 10 years f = 6% i'f = 10%
Construction equipment has a cost today of $40,000. If its cost has increased by only the inflation rate of 6% per year when the market interest rate has been 10% per year, what was its cost 10 years ago? Given: F = $40,000 n = 10 years f = 6% i'f = 10%
Chapter1: Making Economics Decisions
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Construction equipment has a cost today of $40,000. If its cost has increased by only
the inflation rate of 6% per year when the market interest rate has been 10% per year,
what was its cost 10 years ago?
Given:
F = $40,000 n = 10 years
f = 6% i'f = 10%
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