10. If the inflation rate is 3% per year, how many years will it take for the cost ofan item to double, if the price increases only by the inflation rate?Obtain the answer using the following table.вDEIncrease in cost due to inflation, %Inflation rate, % per year1.Years3%5%10%15%20%25%30%4.6%10%21%32%44%56%69%539.163352739512064132246751071441861628611011492052718.6.1934771311992813839.723419516625837752710827481142063304967161193055136252416645960121034631593055198311,2791315561083187141,4412,7425,0191420811655731,5373,7348,57418,90515251092399833,1929,44026,37070,46416301433321,6456,52123,63880,679261,90017503381,04711,639108,266909,944 7,006,392 49.792,82218=((I + C$3)^SA7 - 1)*100The number of years it will take for the cost of an item to double is232.

Given:Inflation Rate=3% per year

If the inflation rate is 3% per year, how many years will it take for the cost of an item to double, if the price increases only by the inflation rate? Obtain the answer using the following table. B D H Increase in cost due to inflation, % Inflation rate, % per year 3. Years 3% 5% 10% 15% 20% 25% 30% 4 2 6% 10% 21% 32% 44% 56% 69% 3 16 33 52 73 95 120 6. 4. 13 22 46 75 107 144 186 7. 16 28 61 101 149 205 271 19 34 77 131 199 281 383 9. 23 41 95 166 258 377 527 10 27 48 114 206 330 496 716 11 30 55 136 252 416 645 960 12 10 34 63 159 305 519 831 1,279 13 15 56 108 318 714 1,441 2742 5,019 14 20 81 165 573 1,537 3,734 8,574 18.905 15 25 109 239 983 3,192 9,440 26,370 70,464 16 30 143 332 1,645 6,521 23,638 80,679 261,900 17 50 338 1,047 11,639 108.266 909,944 7,006,392 49792,822 18 -(1+ C$3Y^$A7 - 1)*100 The number of years it will take for the cost of an item to double is 23 0

If the inflation rate is 3% per year, how many years will it take for the cost of an item to double, if the price increases only by the inflation rate? Obtain the answer using the following table. B D H Increase in cost due to inflation, % Inflation rate, % per year 3. Years 3% 5% 10% 15% 20% 25% 30% 4 2 6% 10% 21% 32% 44% 56% 69% 3 16 33 52 73 95 120 6. 4. 13 22 46 75 107 144 186 7. 16 28 61 101 149 205 271 19 34 77 131 199 281 383 9. 23 41 95 166 258 377 527 10 27 48 114 206 330 496 716 11 30 55 136 252 416 645 960 12 10 34 63 159 305 519 831 1,279 13 15 56 108 318 714 1,441 2742 5,019 14 20 81 165 573 1,537 3,734 8,574 18.905 15 25 109 239 983 3,192 9,440 26,370 70,464 16 30 143 332 1,645 6,521 23,638 80,679 261,900 17 50 338 1,047 11,639 108.266 909,944 7,006,392 49792,822 18 -(1+ C$3Y^$A7 - 1)*100 The number of years it will take for the cost of an item to double is 23 0

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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