As part of modernizing the Kennesaw State University campus, the cost of constructing new digital signs all over campus five years ago was $600,000. A KSU Ccivil engineer designing signs that are almost exactly the same estimates the cost today will be $700,000. If the cost had increased only by the inflation rate over the five years, what was the actual inflation rate per year? (Choose the closest answer) 5.61% 3.13% O6.96% O4.86%

As part of modernizing the Kennesaw State University campus, the cost of constructing new digital signs all over campus five years ago was $600,000. A KSU Ccivil engineer designing signs that are almost exactly the same estimates the cost today will be $700,000. If the cost had increased only by the inflation rate over the five years, what was the actual inflation rate per year? (Choose the closest answer) 5.61% 3.13% O6.96% O4.86%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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