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Engineering Economy 16th Edition by William Sullivan ,Elin Wicks, Koelling,
Edition 16ISBN: 978-0133439274Engineering Economy 16th Edition by William Sullivan ,Elin Wicks, Koelling,
Edition 16ISBN: 978-0133439274 Exercise 1
Gold has recently hit record high prices. When adjusted for inflation, gold remains below a 1980 peak price of $850 per troy ounce. Suppose this 1980 price equates to $2,400 per ounce in 2014 dollars. Based on the prices of gold in 1980 and 2014, what was the compounded annual rate of inflation over this time interval
Explanation
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Inflation can be termed as the general r...
Engineering Economy 16th Edition by William Sullivan ,Elin Wicks, Koelling,
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