Engineering Economy, Student Value Edition (17th Edition)
Engineering Economy, Student Value Edition (17th Edition)
17th Edition
ISBN: 9780134838137
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
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Chapter 8, Problem 22P

(a):

To determine

Calculate the present value.

(b):

To determine

Calculate the new present value.

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An electronic device cost $1250 in 2011. If inflation has averaged 2% each year, what is the price of the device in 2018?
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