The Marshall and Swift (M&S) equipment cost index started with a base value of 100 in 1926. Determine the average (compound) percentage increase per year between 1926 and 2011 when the index value was 1490.2.

The Marshall and Swift (M&S) equipment cost index started with a base value of 100 in 1926. Determine the average (compound) percentage increase per year between 1926 and 2011 when the index value was 1490.2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The Marshall and Swift (M&S) equipment cost
index started with a base value of 100 in 1926. Determine
the average (compound) percentage increase
per year between 1926 and 2011 when the
index value was 1490.2.

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