A homebuilder's advertising has the caption, Inflation to Continue for Many Years. The advertisement continues with the
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A homebuilder's advertising has the caption, "Inflation to Continue for Many Years." The advertisement continues with the explanation that if one buys a home now for $97,000, and inflation continues at a 7% annual rate, the home will be worth $268,000 in 15 years. According to the advertisement, by purchasing a new home now, the buyer will realize a profit of $171,000 in 15 years. Do you find this logic persuasive? Explain.
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Use 97000 1 f n where f7 and n15 97000 1 007 15 97000 FP 7 15 97000 2759 268000 If there ...View the full answer
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