8-22. Refer to Example 4-8. If inflation is expected to average 3% per year over the next...

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8-22. Refer to Example 4-8. If inflation is expected to average 3% per year over the next 60 years, your purchasing power will be less than $1,107,706. (8.2)

a. When f = 3% per year, what is the purchasing power of this future sum of money in today’s dollars when you reach age 80?

b. Repeat Part

(a) when inflation averages 2% per year.

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Engineering Economy

ISBN: 9781292265001

17th Global Edition

Authors: William G. Sullivan ,Elin M. Wicks ,C. Patrick Koelling

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