Question: Fifty years ago, a gold plated dinnerware set was purchased for $48. After a fire, the dinnerware set was destroyed. For insurance purposes, using

Fifty years ago, a gold plated dinnerware set was purchased for $48.

Fifty years ago, a gold plated dinnerware set was purchased for $48. After a fire, the dinnerware set was destroyed. For insurance purposes, using the Aurum Flatware cost index, estimate the cost today. The gold plated set had a cost index of 127, 50 years ago today the cost index is 1989. (5 marks) Use: Annual cost today/Annual cost 50 years ago - Index value today/Index value 50 years ago . At a simple interest rate of 9% per year, $54,000 today is equivalent to how much 2 years from now? Simple interest - Pin, Total amount - P+Pin (3 marks) D . Using only factor notation, calculate the compound interest and total amount due at the end of a loan given: Complete the two statements, (4 marks)

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