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I'm not sure that formulas to solve this with. 7) A valuable asset was priced at $1 million in 1995. What should be its nominal

I'm not sure that formulas to solve this with.

7) A valuable asset was priced at $1 million in 1995. What should be its nominal price in 2012 if the CPI was 95 in 1995 and 145 in 2012? A) $0.95 million B) $1.25 million C) $1.45 million D) $1.53 million E) $1.65 million Answer: D

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