If inflation has been running at 4.05% per year and a new car costs $23,700 today, what would it have cost 3 years ago? A car that costs $23,700 today would have cost $ (Round to the nearest cent as needed.) 3 years ago.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 14EA: How much must be invested now to receive $30,000 for 10 years if the first $30.000 is received one...
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If inflation has been running at 4.05% per year and a new car costs $23,700 today, what would it have cost 3 years
ago?
A car that costs $23,700 today would have cost $
(Round to the nearest cent as needed.)
3 years ago.
Transcribed Image Text:If inflation has been running at 4.05% per year and a new car costs $23,700 today, what would it have cost 3 years ago? A car that costs $23,700 today would have cost $ (Round to the nearest cent as needed.) 3 years ago.
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